Indian rupee ended marginally weaker against the US dollar, due to selling of the US currency by exporters and banks. Some support came with Finance Anurag Singh Thakur’s statement that steps taken by the government to deal with COVID-19 pandemic are resulting in 'V-shaped' economic recovery and the country is likely to witness double digit growth in 2021-22. However, upside remain capped with increasing concerns pertaining to the recent surge in coronavirus cases and localized lockdown at certain part of the country. Meanwhile, investments through participatory notes (P-notes) in the Indian capital market rose to Rs 91,658 crore at February-end, making it the highest level in 33 months, suggesting growing confidence of overseas investors. On the global front, pound was steady on Friday, edging up slightly against the dollar and flat against the euro, a day after a Bank of England meeting that gave sterling traders little reason to change from their generally bullish outlook.
Finally, the rupee ended 72.52, stronger by 1 paise from its previous close of 72.53 on Thursday. The currency touched a high and low of 72.58 and 72.46 respectively. The reference rate for the dollar stood at 72.52, and for Euro stood 86.81 on March 18, 2021. While the reference rate for the Yen stood at 66.61, the reference rate for the Great Britain Pound (GBP) stood at 101.26.