Rising for the second consecutive day, Indian rupee ended higher against dollar on Thursday. Sentiments remained positive with commerce and industry ministry’s latest data showing that foreign direct investment (FDI) equity inflows into India increased by 60 percent to $4.44 billion in April 2021 as against $2.77 billion in the same month last year. Besides, the country has attracted total FDI inflow, including equity, re-invested earnings and capital, of $6.24 billion during April, 2021, which is 38 percent higher as compared to inflow of $4.53 billion in April 2020. However, gains remain capped as S&P Global Ratings cut India's growth forecast for the current fiscal to 9.5 per cent, from 11 per cent earlier, and warned of risk to the outlook from further waves of COVID pandemic. On the global front, dollar slipped slightly on Thursday, having spent the week gradually edging away from two-month highs hit after the U.S. Federal Reserve's surprise hawkish shift at its meeting last week.
Finally, the rupee ended 74.18, stronger by 9 paise from its previous close of 74.27 on Wednesday. The currency touched a high and low of 74.25 and 74.17 respectively.
