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Rupee strengthens against US dollar on Wednesday

30 Sep 2020 Evaluate

Indian rupee strengthened against the US dollar on Wednesday, despite volatility in domestic equities followed by mixed global cues with cautious after the first US Presidential debate between President Donald Trump and Democratic challenger Joe Biden. Though, month-end dollar bids and foreign fund outflows also capped the up-move. Foreign Institutional Investors (FIIs) offloaded shares worth Rs 1,456.66 crore on a net basis on Tuesday, exchange data showed. Meanwhile, investors will be eyeing on a number of economic data that will be released from the UK and the US.

The partially convertible currency is currently trading at 73.81, stronger by 5 paise from its previous close of 73.86 on Tuesday. The currency touched a high and low of 73.8650 and 73.7650 respectively. The reference rate for the dollar stood at 73.57 and for Euro stood 85.58 on September 28, 2020. While the reference rate for the Yen stood at 69.83, the reference rate for the Great Britain Pound (GBP) stood at 93.94.

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