(You can now subscribe to our(You can now subscribe to our ETMarkets WhatsApp channelThe Indian rupee weakened to its lowest level on record on Friday before ending higher as the central bank's intervention supported the currency in the face of the U.S. dollar jumping to a two-year high.The rupee weakened to a low of 84.5075 against the U.S. dollar before closing at 84.4450, up 0.06% on the day. The currency was marginally lower week-on-week.The dollar index climbed to a peak of 108.09 on Friday, its highest since November 2022, before paring gains to last quote up 0.5% at 107.69. "The RBI will mostly be okay with a gradual depreciation of the rupee and will continue with their intervention. Other Asian currencies have declined 0.9% to 2.2% so far in November.The RBI's routine interventions have helped the rupee weather the negative cues, traders said. Asian currencies were mostly weaker on the day, with the Korean won down 0.3% and leading losses

Source: Economic Times November 22, 2024 10:31 UTC