Indian rupee ended weaker against dollar on Friday due to increased demand for American currency from importers and banks. Also, pressure in domestic equity markets impacted traders’ moods. Sentiments were fragile as US Federal Reserve could rein in vast stimulus measures this year, coupled with the rapid spread of the coronavirus Delta variant, signs of faltering Chinese economic growth, and the Taliban's takeover of Afghanistan. Traders were also concerned after industry body FIEO said that bilateral trade with Afghanistan has been impacted and Indian exporters are concerned about their payments as banking services and remittances may face restrictions due to the ongoing situation in that country. On the global front; dollar hit a new 9-1/2-month high against major peers on Friday, buoyed by fears that the Delta coronavirus variant could delay the global economic recovery just as central banks begin to reverse pandemic-era stimulus.
Finally, the rupee ended 74.39, weaker by 15 paise from its previous close of 74.24 on Wednesday. The currency touched a high and low of 74.47 and 74.38 respectively.
