Indian rupee strengthened against the US dollar on Friday, whetted by the massive foreign fund inflows and gains in domestic equity markets. On the domestic equity markets, the 30-share BSE benchmark Sensex was trading 469.68 points higher at 48,909.80, and the broader NSE Nifty advanced 151.95 points to 14,476.85. The sentiments also got boosted after International Monetary Fund quoted that India's economy is on the path of gradual recovery. Globally, the greenback has gained against a basket of major currencies and is in multi-month high due to optimism with the improving US economic data, rising bond yields and vaccine rollout.
The partially convertible currency is currently trading at 72.40, stronger by 12 paise from its previous close of 72.62 on Thursday. The currency touched a high and low of 72.5150 and 72.3750 respectively. The reference rate for the dollar stood at 72.65, and for Euro stood 86.02 on March 24, 2021. While the reference rate for the Yen stood at 66.96, the reference rate for the Great Britain Pound (GBP) stood at 99.61.
