Indian rupee strengthened against the US dollar on Friday, supported by pullback in American currency overseas. Moreover, firm domestic equities also supported rupee sentiments, while Investors now look to industrial output data for April which will be released later in the day. Foreign Institutional Investors (FIIs) bought shares worth Rs 1,329.70 crore, while Domestic Institutional Investors (DIIs) were net sellers to the tune of Rs 575.19 crore in the Indian equity market on Thursday, exchange data showed. However, concerns over rising crude prices capped further gains in rupee.
The partially convertible currency is currently trading at 72.98, stronger by 8 paise from its previous close of 73.06 on Thursday. The currency touched a high and low of 72.9900 and 72.9175 respectively. The reference rate for the dollar stood at 73.11, and for Euro stood 89.14 on June 3, 2021. While the reference rate for the 100 Yen stood at 66.59, the reference rate for the Great Britain Pound (GBP) stood at 103.46.
