Indian rupee strengthened against the US dollar on Wednesday tracking firm domestic equities, even as concerns over corona virus-led economic blow mounted. The number of positive cases around the world linked to the new corona virus has touched nearly 20 lakh. In India, over 11,000 corona virus cases have been reported so far. Meanwhile, market participants will be eyeing on the announcement of any stimulus package that could improve the overall market sentiment. Though, Foreign Institutional Investors (FIIs) sold equity shares worth Rs 1,243.74 crore on Monday, exchange data showed. The forex market was closed on Tuesday for Ambedkar Jayanti.
The partially convertible currency is currently trading at 76.18, stronger by 9 paise from its previous close of 76.27 on Monday. The currency touched a high and low of 76.2025 and 75.9900 respectively. The reference rate for the dollar stood at 76.36 and for Euro stood at 83.56 on April 13, 2020. While the reference rate for the Yen stood at 70.80, the reference rate for the Great Britain Pound (GBP) stood at 95.36.
