Indian rupee ended marginally higher against dollar on Friday, on persistent selling of the American currency by exporters. Traders remained positive as industrial production, measured on the basis of Index of Industrial Production (IIP), grew slightly by 0.2 per cent in September 2020 with higher output of mining and power generation sectors. Meanwhile, Finance Minister Nirmala Sitharaman said that the Indian economy is witnessing a strong recovery after a long and strict lockdown. On the global front, dollar slipped on Friday and risk appetite in currency markets eased, as worries about the economic fallout from surging COVID-19 cases in Europe and the United States tempered initial enthusiasm about a possible vaccine.
Finally, the rupee ended at 74.62, 2 paise stronger from its previous close of 74.64 on Thursday. The currency touched a high and low of 74.71 and 74.47 respectively. The reference rate for the dollar stood at 74.45, and for Euro stood 87.61 on November 12, 2020. While the reference rate for the Yen stood at 71.76, the reference rate for the Great Britain Pound (GBP) stood at 98.28.
