Indian rupee ended weaker against dollar on Friday with fresh dollar demand by banks and importers. Sentiments were dented with private report stating that increasing current account deficit (CAD) forecast to 1.9 per cent of GDP at $60 billion for 2021-22 as compared to $45 billion earlier, following the record $23.27 billion trade deficit in November. It said trade deficit -- the difference between a country's imports and exports -- has been rising and remains sticky, driven by weaker exports, surging domestic activity and higher commodity prices. Sentiments also remained dampened after a private report highlighted a curious case of increase in aggregate bank deposits followed by subsequent slump in alternate fortnights, which is quite a contrarian trend. On the global front; dollar gained on Friday against most major currencies as traders positioned ahead of key U.S. jobs data that could clear the path for an earlier rate hike by the Federal Reserve.
Finally, the rupee ended 75.12 (Provisional), weaker by 10 paise from its previous close of 75.02 on Thursday. The currency touched a high and low of 75.18 and 74.95 respectively.
