Indian rupee ended tad higher against dollar on Thursday, owing to dollar sale by exporters and banks. Traders took support with the retirement fund body, Employment Provident Fund Organisation’s (EPFO) latest ‘Provisional Estimate of Net Payroll’ data report showing that India created 9,98,051 new jobs in the month of September 2019 as against revised figure of 9,41,800 in August 2019. Moreover, dollar losing sheen against some other currencies overseas supported the rupee. However, lackluster trade in local equity markets weighed on the rupee. On the global front, dollar was weaker against other major currencies on Thursday, with investors fixated on the latest developments in a bitter 16-month long trade dispute between the United States and China that has dealt a blow to the world economy.
Finally, the rupee ended at 71.76, 5 paise stronger from its previous close of 71.81 on Wednesday. The currency touched a high and low of 71.89 and 71.72 respectively. The reference rate for the dollar stood at 71.67 and for Euro stood at 79.36 on November 20, 2019. While the reference rate for the Yen stood at 66.05, the reference rate for the Great Britain Pound (GBP) stood at 92.52.
