Indian rupee ended marginally higher against dollar on Thursday, on persistent selling of the American currency by exporters. Traders remained positive with Reserve Bank of India (RBI) Governor Shaktikanta Das’s statement that Indian economy is nearing revival from the coronavirus disease (covid-19) pandemic. He also said that banks and non-banking financial companies (NBFCs) should have adequate capital in today's day and age when the country's economy is at the brink of revival. However, upside remain limited as United Nations Conference on Trade and Development (UNCTAD) has said that India's export growth saw a decline of 6.1 per cent in the third quarter of 2020 as compared to third quarter of last year. Though, it said that India recorded export growth of four per cent in September. On the global front; pound slipped slightly on Thursday, but held close to six-week highs it touched on the previous day after news that stalled Brexit negotiations were due to resume.
Finally, the rupee ended at 73.54, 4 paise stronger from its previous close of 73.58 on Wednesday. The currency touched a high and low of 73.78 and 73.53 respectively. The reference rate for the dollar stood at 73.45 and for Euro stood 87.05 on October 21, 2020. While the reference rate for the Yen stood at 69.77, the reference rate for the Great Britain Pound (GBP) stood at 95.38.
