Indian rupee marginally strengthens against the US dollar on Wednesday, lifted by the better buying activity in the domestic stock market. Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 6,181.56 crore on a net basis on Tuesday. However, the investors remained side-lined ahead of Reserve Bank of India (RBI) monetary policy outcome to be announced on Friday.
The partially convertible currency is currently trading at 72.9375, stronger by 3 paise from its previous close of 72.96 on Tuesday. The currency touched a high and low of 73.9750 and 72.9300 respectively. The reference rate for the dollar stood at 73.01, and for Euro stood 88.58 on February 01, 2021. While the reference rate for the Yen stood at 69.75, the reference rate for the Great Britain Pound (GBP) stood at 100.35.
