Indian rupee ended stronger against dollar on Wednesday due to fresh selling of the American currency by banks and exporters. Traders took support as National Council of Applied Economic Research (NCAER) showed that as the second wave of Covid-19 eased off, business sentiment in the country hit an over two-year high in the September quarter (Q2) of the current financial year (FY22). Meanwhile, Chairman of the 15th Finance Commission -- N K Singh stated that the International Monetary Fund’s (IMF's) decision to revise India's potential growth forecast downwards to 6 per cent citing the coronavirus pandemic is a ‘gross under estimation’ and observed that calculations of growth potential are always problematic. On the global front; Sterling was little changed on Wednesday ahead of a half-yearly update on the public finances and economic outlook from British finance minister Rishi Sunak.
Finally, the rupee ended 74.90, stronger by 6 paise from its previous close of 74.96 on Tuesday. The currency touched a high and low of 75.05 and 74.90 respectively.
