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Rupee ends marginally higher against dollar on Wednesday

17 Jun 2020 Evaluate

Indian rupee ended marginally higher against dollar on Wednesday, as bankers and exporters took to selling of American currency. Sentiments were positive even as Gross direct tax collection fell 31 percent to Rs 1,37,825 crore till June 15 of the first quarter of FY21 with advance corporate tax mop-up declining 79 percent amid coronavirus lockdown, which resulted in shuttering of most of the country's economic activities. On the global, dollar was little changed on Wednesday after U.S. retail sales rose more than expected in May, although caution kept investors from aggressively buying riskier currencies like the Australian dollar.

Finally, the rupee ended at 76.16, 4 paise stronger from its previous close of 76.20 on Tuesday. The currency touched a high and low of 76.25 and 76.10 respectively. The reference rate for the dollar stood at 75.84 and for Euro stood at 85.96 on June 16, 2020. While the reference rate for the Yen stood at 70.54, the reference rate for the Great Britain Pound (GBP) stood at 96.04.

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