Indian rupee strengthened against the US dollar on Thursday as weakness in the American currency at overseas amid optimism surrounding the US stimulus package kept rupee sentiment positive. US Congressional negotiators were closing in on a $900 billion Covid-19 aid bill, lawmakers and aides said on Wednesday. Further, the investor sentiment also remained positive after US Federal Reserve pledged to keep its benchmark interest rate near zero until an economic recovery is complete. Moreover, positive domestic equities amid sustained foreign fund inflows too strengthened investor sentiment. Foreign institutional Investors (FIIs) bought shares worth Rs 1,981.77 crore on a net basis on Wednesday, exchange data showed.
The partially convertible currency is currently trading at 73.40, stronger by 18 paise from its previous close of 73.58 on Wednesday. The currency touched a high and low of 73.55 and 73.39 respectively. The reference rate for the dollar stood at 73.65, and for Euro stood 89.50 on December 15, 2020. While the reference rate for the Yen stood at 70.76, the reference rate for the Great Britain Pound (GBP) stood at 98.24.
