Indian rupee strengthened against the US dollar on Friday on account of firm domestic equities tracking gains in global peers after US President Donald Trump's announced plans to gradually re-open the US economy. The rupee sentiment improved further after the Reserve Bank of India Governor Shaktikanta Das announced a series of steps to help revive the Indian economy, including cutting its reverse repo rate by 25 basis points to 3.75 percent although the repo rate remained unchanged. However, Foreign Institutional Investors (FIIs) sold equity shares worth Rs 2,920.36 crore on Thursday, exchange data showed.
The partially convertible currency is currently trading at 76.47, stronger by 40 paise from its previous close of 76.87 on Thursday. The currency touched a high and low of 76.62 and 76.42 respectively. The reference rate for the dollar stood at 76.27 and for Euro stood at 83.60 on April 15, 2020. While the reference rate for the Yen stood at 71.23, the reference rate for the Great Britain Pound (GBP) stood at 95.97.
