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Rupee strengthens against US dollar on Thursday

09 Jan 2020 Evaluate

Indian rupee strengthened against US dollar on Thursday as global markets rebounded after US President Donald Trump indicated no military action in response to Iran’s attack on US forces in Iraq. The comments came after Iran fired rockets at US facilities in Iraq in response to the killing of its top general Qassem Soleimani. Though, on a net basis, Foreign Institutional Investors (FII) sold equities worth Rs 515.85 crore, exchange data showed.

The partially convertible currency is currently trading at 71.42, stronger by 28 paise from its previous close of 71.70 on Wednesday. The currency touched a high and low of 71.5100 and 71.4150 respectively. The reference rate for the dollar stood at 71.77 and for Euro stood at 80.28 on January 7, 2020. While the reference rate for the Yen stood at 66.22, the reference rate for the Great Britain Pound (GBP) stood at 94.43.

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