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The rupee depreciated against the US dollar

The rupee witnessed high volatility and fell by 45 paise to RS. 81.27 against the US dollar in line with muted trends in domestic stocks.

The local currency opened at 80.55, up 0.34%, or 27 paise.

On Friday, the rupee gained 62 paise to close at 80.78 against the dollar.

“Rupee eased on recovery in dollar and weak domestic markets. However, rupee opened higher on positive macroeconomic data,” said Anuj Choudhary – analyst at Sharekhan at BNP Paribas.

India’s industrial output expanded 3.1% in September, boosted by the manufacturing, mining and power sectors, according to official data released on Friday.

“Overall dollar weakness amid rising expectations of a not-so-aggressive central bank could also support the rupee at lower levels. Sustained FII inflows could also support the rupee. However, higher crude oil prices may limit significant upside,” Choudhary added. .

On a domestic macroeconomic perspective, wholesale price inflation fell to a 19-month low of 8.39% in October due to falling prices of fuel and manufactured goods.

The rupee had touched a record low of 83.29 in October. 20.

(Input from PTI)

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