Indian rupee ended higher against dollar on Friday, on the back of selling of the American currency by exporters. Traders were getting support with Industry chamber PHDCCI stating that the gradual receding of the second wave of the COVID-19 pandemic has created scope for the economy to recover from the daunting impact witnessed in April and May 2021. However, gains remain capped as some cautiousness came in with a private report that Southwest monsoon has practically stalled over most parts of the country since June 19. This has not only delayed its progress over north India but has also badly impacted the sowing of the kharif crop. On the global front, dollar fell on Thursday from a three-month high against a basket of peers, with the euro getting a boost as investors unwound bets on risky currencies and as concerns over the spread of COVID variants increased the demand for safe havens.
Finally, the rupee ended 74.63, stronger by 8 paise from its previous close of 74.71 on Thursday. The currency touched a high and low of 74.68 and 74.57 respectively.
