Consolidating its strong recovery, Indian rupee ended higher against dollar on Thursday, on persistent selling of the American currency by banks and exporters. Investors sentiment was supported with report that the RBI has relaxed norms for imports of capital and non-capital goods by raising the trade credit limit to $150 million under the automatic route. Traders overlooked data showing that Inflation based on wholesale prices rose to 2.93 percent in February over the previous month due to hardening of prices of primary articles, fuel and power. On the global front, dollar gained on Thursday as the pound fell after a tense vote on Brexit that failed to deliver much clarity on where Britain’s relationship with the European Union was headed.
Finally, the rupee ended at 69.34, 20 paise stronger from its previous close of 69.54 on Wednesday. The currency touched a high and low of 69.78 and 69.26 respectively. The reference rate for the dollar stood at 69.66 and for Euro stood at 78.84 on March 14, 2019. While the reference rate for the Yen stood at 62.43, the reference rate for the Great Britain Pound (GBP) stood at 92.28.
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