Rupee ends 13 paise down against US dollar at 80.99

Mumbai : The Indian rupee on Friday ended 13 paise down against the US dollar, at 80.99, after hitting record lows during the morning trade.
At close, the rupee ended at 80.99 as against 80.86 on the previous trading session.
“Indian rupee marked the biggest weekly decline after April 2021 amid a stronger dollar index and risk-off moods. There seems to be no turning back for the dollar as it made a fresh two-decade high and, in turn, pushed the rupee to a record low level,” Dilip Parmar, Research Analyst, HDFC Securities said.
In the morning trade, the rupee hit 81-mark against the US dollar for the first time, because of uncertainty created after the uptick in dollar index, increase in policy rate by the US Fed and Bank of England, and escalation in geopolitical tensions between Russia and Ukraine.
Moreover, the negative trends in the domestic equities also weighed on sentiments.
The Bank of England hiked its base rate by 50 basis points to 2.25 percent.