Rupee settled lower against dollar on Friday weighed down by safe-haven dollar demand and higher crude oil prices. Foreign fund outflows also weighed on the local unit. Investors overlooked finance ministry’s statement that growth momentum gathered in the January-March quarter will be sustained in the April-June quarter of the current financial year amid the strengthening of the current account balance. Meanwhile, S&P Global report said India can become a $6.7 trillion economy by 2031, from $3.4 trillion currently, if the country clocks an average growth of 6.7 per cent for 7 years. On the global front, the pound held steady just above a five-week low on Friday as traders continued to process the previous day's 25 basis point Bank of England rate hike, and ahead of crucial U.S. jobs data.
Finally, the rupee ended at 82.82 (Provisional), weaker by 8 paise from its previous close of 82.74 on Thursday. The currency touched a high and low of 82.85 and 82.72 respectively.