Indian rupee strengthened against the US dollar on Thursday amid easing crude oil prices. Though, weak domestic equities as investors continued to remain concerned about spreading of novel corona virus outside China, capped some upward sentiment in rupee. Overall, there have been more than 82,100 infections and 2,800 deaths worldwide, according to the latest toll from Johns Hopkins Center for Health Security. Meanwhile, market participants will also be keeping an eye on third quarter GDP numbers that to be released on Friday. Foreign institutional investors (FIIs) sold shares worth Rs 3,336.60 crore on Wednesday, exchange data showed. On the global front, the US dollar held gains against the yen as growing concerns that a corona virus outbreak is turning into a pandemic boosted demand for the safety of US Treasuries.
The partially convertible currency is currently trading at 71.62, stronger by 3 paise from its previous close of 71.65 on Wednesday. The currency touched a high and low of 71.6925 and 71.6000 respectively. The reference rate for the dollar stood at 71.85 and for Euro stood at 78.00 on February 25, 2020. While the reference rate for the Yen stood at 64.82, the reference rate for the Great Britain Pound (GBP) stood at 92.97.
