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Indian rupee ended weaker against the US dollar on Thursday, on increased demand for the greenback from importers and banks. Traders were worried as private report states that even though the overall outlook for corporates have improved on the back of faster than expected recovery, and the same is likely to gain further traction in H2 but the rising commodity prices and logistics cost pose headwinds to their profitability. Besides, losses in the local equity market also dampened sentiments. However, downfall remain capped as Finance Minister Nirmala Sitharaman said there are clear signs of an uptick in the economy and the industry should now start taking risks and invest in capacity creation that will help cut reliance on imports. On the global front; pound held at a one-week high against the dollar on Thursday, as expectations mount that Britain's central bank will act sooner rather than later to hike policy rates in order to combat inflation, which would in turn boost sterling.

Finally, the rupee ended 74.30 (provisional), weaker by 2 paise from its previous close of 74.28 on Wednesday. The currency touched a high and low of 74.30 and 74.01 respectively.