Continuing prevision session gain, Indian rupee ended higher against dollar on Wednesday, on persistent selling of the American currency by exporters. Traders took some solace with finance ministry's monthly report stating that the growth and inflation outlook for 2021-22 (FY22) portends more than full recovery, and that the country has become the COVID-19 vaccine hub of the world. Meanwhile, State for Finance Anurag Singh Thakur stated that gross non-performing assets (NPAs) of public sector banks (PSBs) declined from Rs 8.96 lakh crore in March 2018 to Rs 6.09 lakh crore in September 2020 due to various measures taken by the government. On the global front; dollar has sunk against major peers as optimism over monetary and fiscal support, robust corporate earnings and coronavirus vaccines bolstered risk sentiment.
Finally, the rupee ended at 72.84, 3 paise stronger from its previous close of 72.87 on Tuesday. The currency touched a high and low of 72.88 and 72.81 respectively. The reference rate for the dollar stood at 72.88, and for Euro stood 88.03 on February 09, 2021. While the reference rate for the Yen stood at 69.51, the reference rate for the Great Britain Pound (GBP) stood at 100.43.
