Indian rupee strengthened against the US dollar on Monday, despite strong American currency at overseas markets following passage of $1.9 trillion stimulus bill and last week's robust US jobs report. However, rising crude oil prices adding pressure on domestic currency and capped rupee’s gains. Meanwhile, Foreign Institutional Investors (FIIs) offloaded shares worth Rs 2,014.16 crore, while Domestic Institutional Investors (DIIs) also sold shares worth of Rs 1,191.19 crore in the Indian equity market on Friday, exchange data showed.
The partially convertible currency is currently trading at 72.93, stronger by 9 paise from its previous close of 73.02 on Friday. The currency touched a high and low of 73.1600 and 72.9300 respectively. The reference rate for the dollar stood at 72.75, and for Euro stood 86.98 on March 05, 2021. While the reference rate for the Yen stood at 67.27, the reference rate for the Great Britain Pound (GBP) stood at 101.01.
