Rupee strengthens as American currency weakened against its rivals

29 Apr 2021 Evaluate

Indian rupee strengthened against the US dollar on Thursday, tracking weak American currency against other currencies overseas after the dovish statement by the US Federal Reserve. However, concerns over surging corona-virus cases in India and lockdown restriction in some states capped gains for the local currency. Foreign Institutional Investors (FII) bought shares worth Rs 766.02 crore, while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 436.20 crore in the Indian equity market on Wednesday, exchange data showed.

The partially convertible currency is currently trading at 74.04, stronger by 32 paise from its previous close of 74.36 on Wednesday. The currency touched a high and low of 74.2300 and 74.0400 respectively. The reference rate for the dollar stood at 74.72, and for Euro stood 90.14 on April 20, 2021. While the reference rate for the Yen stood at 68.95, the reference rate for the Great Britain Pound (GBP) stood at 104.57.

© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt.Ltd.