Indian rupee ended higher against dollar on Thursday, on persistent selling of the American currency by exporters. Some support came in as government is aiming to conclude privatisation of PSUs - where the divestment process has already started - this fiscal. The Budget for 2021-22 has set a disinvestment target of Rs 1.75 lakh crore, higher than Rs 32,835 crore garnered in the last fiscal. However, upside remained capped as ICRA in its latest report has said that uptick in headline numbers of key economic indicators in April is due to the base effect and that the economy is headed into rough patch as consumer sentiment is down in the dumps due to the second wave of the pandemic. On the global front; dollar edged lower on Thursday but remained well above three-month lows hit overnight after minutes from the Federal Reserve's last policy meeting revealed there was more talk of tapering its bond purchases than investors had expected.
Finally, the rupee ended 73.12, stronger by 6 paise from its previous close of 73.18 on Wednesday. The currency touched a high and low of 73.17 and 73.09 respectively.
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