Indian rupee strengthened marginally against the US dollar on Thursday tracking gains in domestic equity market and foreign fund inflows. Foreign institutional investors (FIIs) bought shares worth Rs 351.15 crore on Wednesday, exchange data showed. Meanwhile, investors are eyeing on CPI inflation data scheduled to be released later in the day for further cues. On the global front, the dollar weakened against its peers and restricted its further gains amid fading expectations for a compromise between Republicans and Democrats over additional economic stimulus for the US economy.
The partially convertible currency is currently trading at 74.80, stronger by 3 paise from its previous close of 74.83 on Wednesday. The currency touched a high and low of 74.8650 and 74.7850 respectively. The reference rate for the dollar stood at 74.84 and for Euro stood at 87.80 on August 11, 2020. While the reference rate for the Yen stood at 70.49, the reference rate for the Great Britain Pound (GBP) stood at 97.78.
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