Indian rupee ended marginally weaker against the US dollar on Friday, on increased demand for the greenback from importers and banks. Investors were concerned as US think-tank has observed that India's domestic challenges due to COVID-19 crisis have become a threat to its regional and global ambitions. It warned that unless it recovers with the help of allies like the United States, the pandemic could impact the geopolitical balance in the Indo-Pacific. However, downfall remain capped with credit rating agency Icra Ratings’ report that the country's gross domestic product (GDP) will grow at 8.5 per cent in FY2021-22, with decline in number of fresh COVID-19 cases and easing of restrictions. On the global front; dollar index edged down on Friday and major currency pairs were stuck within recent ranges as markets shrugged off Thursday's high U.S. inflation number, believing the Federal Reserve's stance that it is likely to be a temporary blip.
Finally, the rupee ended 73.07, weaker by 1 paise from its previous close of 73.06 on Thursday. The currency touched a high and low of 73.09 and 72.91 respectively.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: