Indian rupee strengthened against the US dollar on Friday, tracking weakness in the American currency following optimism surrounding the US stimulus aid package. Further, news of vaccine rollouts and progress in Brexit trade talks also weakening the US dollar overseas, and thereby supporting the Indian rupee. Moreover, sustained foreign fund inflows also strengthened rupee sentiment. Foreign Institutional Investors (FIIs) bought shares worth Rs 2,355.25 crore, while Domestic Institutional Investors (DIIs) sold Rs 2,494.36 crore in the Indian equity market on Thursday, exchange data showed.
The partially convertible currency is currently trading at 73.50, stronger by 9 paise from its previous close of 73.59 on Thursday. The currency touched a high and low of 73.5600 and 73.5075 respectively. The reference rate for the dollar stood at 73.52, and for Euro stood 89.40 on December 16, 2020. While the reference rate for the Yen stood at 70.98, the reference rate for the Great Britain Pound (GBP) stood at 98.91.
