Currency Buzz: INR Settles Lower

14 Mar 2022 , 05:31 PM

The Indian rupee declined by 11 paise to close at 76.55 (provisional) against the US dollar on Monday as the wholesale price-based inflation in February rose to 13.11 per cent on hardening of prices of crude oil and non-food items, even though food articles softened. After two months of mild easing, WPI inflation accelerated in February and remained in double digits for the 11th consecutive month, beginning April 2021. At the interbank foreign exchange market, the rupee opened at 76.63 against the American dollar. During the day, it swung between a high of 76.52 and a low of 76.69. The local unit finally settled at 76.55 against the dollar, down 11 paise from the previous close.

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