Indian rupee strengthened against US dollar on Thursday as firm equity market and sustained foreign fund inflows kept the rupee sentiments positive. Foreign Institutional Investors (FIIs) bought shares worth Rs 2,289.05 crore, while Domestic Institutional Investors (DIIs) sold of Rs 864.62 crore in the Indian equity market on Wednesday, exchange data showed. Moreover, weakness in American currency overseas and optimism over massive US stimulus package under the new Joe Biden administration too supported rupee.
The partially convertible currency is currently trading at 72.98, stronger by 7 paise from its previous close of 73.05 on Wednesday. The currency touched a high and low of 73.0150 and 72.9300 respectively. The reference rate for the dollar stood at 73.18, and for Euro stood 88.51 on January 19, 2021. While the reference rate for the Yen stood at 70.35, the reference rate for the Great Britain Pound (GBP) stood at 99.56.
