Indian rupee strengthened against the US dollar on Friday amid a firm trend in the domestic equity market following the foreign fund inflows. Foreign institutional investors (FIIs) bought shares worth Rs 1,936.74 crore on a net basis on Thursday, exchange data showed. The Reserve Bank of India has decided to leave benchmark interest rate unchanged at 4% but maintained an accommodative stance. On the global front, the US dollar headed for its best weekly gain in three months, lifted by growing confidence that the US economic recovery will outpace global peers.
The partially convertible currency is currently trading at 72.89, stronger by 7 paise from its previous close of 72.96 on Thursday. The currency touched a high and low of 72.99 and 72.8850 respectively. The reference rate for the dollar stood at 72.93, and for Euro stood 87.81 on February 03, 2021. While the reference rate for the Yen stood at 69.44, the reference rate for the Great Britain Pound (GBP) stood at 99.57.
