Indian rupee strengthened against the US dollar on Wednesday, supported by weak American currency on continued optimism about the US Congress for passing the latest stimulus measures before the presidential election next month. Meanwhile, investors are awaiting the final debate between US President Donald Trump and Democratic nominee Joe Biden on Thursday. Further, firm domestic equities and foreign fund inflows also added support to rupee. Foreign Institutional Investors bought shares worth Rs 1,585.07 crore on Tuesday, exchange data showed.
The partially convertible currency is currently trading at 73.44, stronger by 5 paise from its previous close of 73.49 on Tuesday. The currency touched a high and low of 73.46 and 73.3650 respectively. The reference rate for the dollar stood at 73.41 and for Euro stood 85.96 on October 19, 2020. While the reference rate for the Yen stood at 69.64, the reference rate for the Great Britain Pound (GBP) stood at 94.97.
