Indian rupee ended lower against dollar on Thursday, on account of sustained dollar demand from importers and banks. Traders paid no heed toward with the Ministry of Commerce and Industry’s statement that foreign direct investment (FDI) inflows from April to November 2020 have increased by 22 percent (YoY) to $58.37 billion - the highest for the first 8 months of any fiscal. Apart from this, the FDI equity inflows received during April-November 2020, rose by 37 percent (Y-o-Y) to $43.85 billion. Besides, losses in the local equity market also dampened sentiments. On the global front; pound retreated on Thursday from the multi-month highs it hit in the previous session, as investors tempered some of their optimism about COVID-19 vaccinations in the UK.
Finally, the rupee ended at 73.05, 13 paise weaker from its previous close of 72.92 on Wednesday. The currency touched a high and low of 73.15 and 73.04 respectively. The reference rate for the dollar stood at 72.81, and for Euro stood 88.56 on January 27, 2021. While the reference rate for the Yen stood at 70.23, the reference rate for the Great Britain Pound (GBP) stood at 100.05.
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