Indian rupee strengthened against US dollar on Monday, driven by weakness in American currency against its major peers and ahead of the US Federal Reserve meeting this week. Though, fresh doubts over the ability of Covid-19 vaccine makers to secure agreed supplies fueled downward pressure on rupee. Investors are continued to monitor the situation surrounding the corona virus pandemic. Meanwhile, Foreign Institutional Investors (FIIs) offloaded shares worth Rs 635.69 crore on a net basis on Friday, exchange data showed.
The partially convertible currency is currently trading at 72.92, stronger by 5 paise from its previous close of 72.97 on Friday. The currency touched a high and low of 72.9650 and 72.8900 respectively. The reference rate for the dollar stood at 73.03, and for Euro stood 88.86 on January 22, 2021. While the reference rate for the Yen stood at 70.49, the reference rate for the Great Britain Pound (GBP) stood at 100.05.
