Rupee is Asia's worst performing currency as 2022 ends

New Delhi: The Indian rupee ended this year’s last trading day on Friday as Asia’s worst-performing currency, Reuters reported.

The currency declined by 11.3% as compared to the end of last year – its worst annual performance since 2013 as the United States dollar gained because of the Federal Reserve’s aggressive monetary policy tightening to stem inflation.

The rupee touched a record low of 83.29 against the dollar in October and has been hovering below the psychological mark of 83 in recent weeks.

On Friday, the rupee rose 15 paise to provisionally end at 82.72 against the US dollar, down from 74.33 at the end of last year. The dollar, meanwhile, was on track for its biggest annual gain since 2015.