Indian rupee appreciated against the US dollar on Thursday, on back of firmer opening in domestic equities and rebound in most Asian currencies. Moreover, higher opening of domestic equities also supported the local unit. While, sustained foreign fund outflows and concerns over coronavirus outbreak limited gains on the currency. On the global front, rebound in crude prices after recent plunge only partially calmed markets unnerved by the massive coronavirus-led drop in global demand. The dollar also buoyed with the currency's safe haven appeal in this contingency period.
The partially convertible currency is currently trading at 76.15, stronger by 53 paise from its previous close of 76.68 on Wednesday. The currency touched a high and low of 76.31 and 76.04 respectively. The reference rate for the dollar stood at 76.65 and for Euro stood at 83.08 on April 21, 2020. While the reference rate for the Yen stood at 71.31, the reference rate for the Great Britain Pound (GBP) stood at 95.13.
