Indian rupee strengthened against the US dollar on Friday as the dollar weakened against its other major currencies. Further, firm domestic equities and consistent FII inflows too kept the rupee sentiment positive. Foreign Institutional Investors (FIIs) bought shares worth Rs 1,135.59 crore on a net basis on Thursday, exchange data showed. Moreover, expectations of global economic recovery following the roll out of corona virus vaccines and extraordinary US fiscal and monetary stimulus, too supported the rupee. Though, some gains were capped by lack of major economic data in the days ahead on the domestic as well as on the global front.
The partially convertible currency is currently trading at 73.03, stronger by 4 paise from its previous close of 73.07 on Thursday. The currency touched a high and low of 73.1150 and 73.0275 respectively. The reference rate for the dollar stood at 73.28, and for Euro stood 89.98 on December 30, 2020. While the reference rate for the Yen stood at 70.91, the reference rate for the Great Britain Pound (GBP) stood at 99.18.
