Indian rupee ended significantly higher against dollar on persistent selling of the American currency by exporters. This was the second consecutive session when the rupee was traded higher against dollar. Sentiments perked up as Prime Minister Narendra Modi and French President Emmanuel Macron discussed the positive outcomes of the recently concluded India-EU Leaders' Meeting. India and the European Union (EU) had on May 8 announced their decision to resume negotiations for a balanced and comprehensive trade agreement after a gap of eight years and unveiled an ambitious connectivity partnership. Traders ignored Reserve Bank of India’s statement that the second wave of Covid-19 pandemic has triggered revision of growth projections for the current financial year with consensus gravitating towards its earlier forecast of 10.5 per cent. On the global front; sterling recovered from an overnight drop against the dollar that took it to a 10-day low on Thursday, as the greenback's spike higher fizzled out by the start of European trading.
Finally, the rupee ended 72.60, stronger by 17 paise from its previous close of 72.77 on Tuesday. The currency touched a high and low of 72.76 and 72.53 respectively.