Indian rupee ended stronger against dollar on Friday due to fresh selling of the American currency by banks and exporters. The domestic currency was trading strong from the start, on back of positive equity markets. Sentiments perked up with report that foreign investors pumped in nearly $4 billion in Indian equities in the three months ended June on attractive valuations, lifting of lockdown curbs and the government's efforts to kick start economic activity. On the global front; pound rose to a 1-1/2-month high on Friday versus the euro and inched towards an eight-month high against the greenback after UK retail sales numbers for July came in much higher than expected.
Finally, the rupee ended at 74.84, 18 paise stronger from its previous close of 75.02 on Thursday. The currency touched a high and low of 74.96 and 74.84 respectively. The reference rate for the dollar stood at 75.00 and for Euro stood at 88.82 on August 20, 2020. While the reference rate for the Yen stood at 70.70, the reference rate for the Great Britain Pound (GBP) stood at 98.12.
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