Indian rupee strengthened against the US dollar on Thursday, tracking gains in the domestic equity market following positive global markets cues with expectations that at least a partial deal on more US fiscal stimulus may happen. Further, weakness in US dollar overseas and sustained foreign fund inflow too added support to domestic currency. Foreign institutional investors (FIIs) bought shares worth Rs 1,093.81 crore on Wednesday, exchange data showed. Meanwhile, investors are cautious ahead of the RBI Monetary Policy Committee decision on Friday.
The partially convertible currency is currently trading at 73.31, stronger by 2 paise from its previous close of 73.33 on Wednesday. The currency touched a high and low of 73.3500 and 73.2400 respectively. The reference rate for the dollar stood at 73.36 and for Euro stood 86.43 on October 06, 2020. While the reference rate for the Yen stood at 69.43, the reference rate for the Great Britain Pound (GBP) stood at 95.27.
