Indian rupee strengthened against the US dollar on Monday due to firm domestic equities, while American currency trading at flat on growing expectations of a forthcoming fiscal stimulus package. Rupee improved further as the Monetary Policy Committee of RBI on Friday kept the key repo rate unchanged at 4%, but maintained an accommodative stance. Though, foreign fund outflows and surging corona virus cases across the globe capped some gains on Rupee. Foreign investors had offloaded Indian equities worth a net Rs 39.39 crore on Friday, exchange data showed.
The partially convertible currency is currently trading at 73.14, stronger by 2 paise from its previous close of 73.16 on Friday. The currency touched a high and low of 73.1600 and 73.0600 respectively. The reference rate for the dollar stood at 73.21 and for Euro stood 86.20 on October 09, 2020. While the reference rate for the Yen stood at 69.11, the reference rate for the Great Britain Pound (GBP) stood at 94.79.
