LM:Rupee trades lower after WPI inflation exceeds estimates
Mumbai: The Indian rupee on Wednesday traded lower at 61.45 per dollar at 12:36pm, down 0.42% against its Tuesday’s close of 61.20, after the headline inflation number for July came in higher than expected.
Inflation based on the wholesale price index (WPI) accelerated to 5.79% in July from 4.86% in the preceding month giving no respite to policymakers battling a weak Indian currency and slowing growth.
India’s equity benchmark Sensex was trading at 19,271.61 points, up 0.18%.
Earlier in the day, the rupee had opened the session at 61.47 per dollar.
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