Indian rupee ended higher against dollar on Thursday as banks and exporters continued to sell the US currency amid persistent capital inflows. Besides, healthy gains in domestic equity markets also supported the rupee. Sentiments remained positive with private report stated that IT spending in the country is expected to grow at 8 per cent to $92.7 billion in 2021. The growth at 8 percent is a shade less than the world average of 8.6 per cent and global spends on information technology are estimated to come at $4.2 trillion. Traders took note of report that garment exporters will continue to get a rebate on central and state taxes on their outward shipments as the government approved extension of RoSCTL scheme till March 2024. On the global front, sterling retreated further against the dollar and euro on Thursday, shrugging off another set of stronger economic data and focusing on the impending end of activity curbs even as COVID-19 infection rates climbed.
Finally, the rupee ended 74.54, stronger by 5 paise from its previous close of 74.59 on Wednesday. The currency touched a high and low of 74.55 and 74.47 respectively.
