Snapping two day falling streak, Indian rupee staged a smart recovery against dollar on Wednesday, as positive trend in equity market and easing crude prices strengthened investor sentiments. Traders also took encouragement with a report that the finance ministry is working on one more booster dose to give a leg-up to the economy that has hit over six-year low of 5 per cent. As per the report, the blue print for the stimulus is ready that would be announced by Finance Minister Nirmala Sitharaman in the next few days. On the global front, dollar held near a seven-week high against the Japanese yen on Wednesday before the outcome of a Federal Reserve meeting where officials are widely expected to cut interest rates by a quarter of a percentage point.
Finally, the rupee ended at 71.24, 54 paise stronger from its previous close of 71.78 on Tuesday. The currency touched a high and low of 71.51 and 71.17 respectively. The reference rate for the dollar stood at 71.81 and for Euro stood at 78.96 on September 17, 2019. While the reference rate for the Yen stood at 66.36, the reference rate for the Great Britain Pound (GBP) stood at 89.12.
