Indian rupee ended marginally higher against dollar on Friday, on persistent selling of the American currency by exporters. Traders remained positive with industry chamber PHDCCI’s statement that the economy is recovering at a fast pace from the recent lows of April and May on the back of declining new coronavirus cases, continued unlocking in various parts of the country and calibrated economic reforms announced by the government. Meanwhile, the RBI kept the monetary policy rate unchanged at 4 per cent and continued with the ‘accommodative’ policy stance. The central bank pegged real GDP growth forecast for FY22 at 9.5 per cent and at 17.2 per cent for FY23. On the global front, dollar crept higher on Friday, lifted by a rise in U.S. inflation-adjusted bond yields to one-week highs and expectations of a strong set of employment data that could make the case for faster U.S. policy tightening.
Finally, the rupee ended 74.15, stronger by 2 paise from its previous close of 74.17 on Thursday. The currency touched a high and low of 74.22 and 74.10 respectively.
