Indian rupee strengthened against the US dollar on Monday supported by firm domestic equities tracking positive global cues and further fall in daily Covid-19 cases across the country. Union health ministry data showed India's COVID-19 tally mounted to 2,49,65,463 on Monday with 2,81,386 fresh Covid-19 cases, while the death toll climbed to 2,74,390 with 4,106 fatalities. New cases declined below 300,000 after 25 days as the country seeks to scale up vaccinations. However, Foreign Institutional Investors (FIIs) pulled out Rs 2,607.85 crore on Friday, exchange data showed.
The partially convertible currency is currently trading at 73.24, stronger by 5 paise from its previous close of 73.29 on Friday. The currency touched a high and low of 73.2650 and 73.2050 respectively. The reference rate for the dollar stood at 73.74, and for Euro stood 88.89 on May 7, 2021. While the reference rate for the 100 Yen stood at 67.55, the reference rate for the Great Britain Pound (GBP) stood at 102.50.
