Rupee settled lower against dollar on Friday amid a strong greenback overseas. Traders were cautious as a private report stated that persistently high inflation remains the biggest economic concern this year even as most central banks are at or near the end-game for rate rises. Meanwhile, the RBI Governor Shaktikanta Das said the Reserve Bank of India (RBI) is looking closely at banks’ business models to flag any deficiencies that could impact financial resilience, but added that domestic lenders can maintain minimum capital even under severe stress conditions. On the global front, Russian rouble leapt over 2% to a three-week high against the dollar on Friday, strengthening sharply after Russia's central bank held interest rates at 7.5% but kept the prospect of future rate hikes on the table.
Finally, the rupee ended at 81.82 (Provisional), weaker by 3 paise from its previous close of 81.79 on Thursday. The currency touched a high and low of 81.85 and 81.72 respectively.