Indian rupee strengthened against US dollar on Friday due to some selling in American currency by banks and exporters. Though, some positive sentiments were limited by weakness in domestic equities as the economic stimulus package announced by the government over the last two days failed to cheer investors. Meanwhile, rising corona virus cases in the country and capital outflows restricted some gains on the domestic currency. Foreign portfolio investors (FPIs) sold shares worth Rs 2,152.52 crore on Thursday, exchange data showed. The death toll in India due to corona virus rose to 2,649 and the number of cases climbed to 81,970, according to the health ministry. The number of cases around the world linked to the disease has crossed over 44.43 lakh and the death toll has topped 3.02 lakh.
The partially convertible currency is currently trading at 75.51, stronger by 5 paise from its previous close of 75.56 on Thursday. The currency touched a high and low of 75.5700 and 75.4500 respectively. The reference rate for the dollar stood at 75.38 and for Euro stood at 81.82 on May 13, 2020. While the reference rate for the Yen stood at 70.37, the reference rate for the Great Britain Pound (GBP) stood at 92.61.
