Indian rupee strengthened against the US dollar on Thursday tracking firm domestic equities. Foreign Institutional Investors (FIIs) bought shares worth Rs 3,156.53 crore in Wednesday, exchange data showed. Although, some gains in rupee were restricted by strong American currency overseas as investors digested the US Federal Reserve official’s commentary over the likely timing of the withdrawal of monetary stimulus. Firm crude oil prices also capped gains in rupee.
The partially convertible currency is currently trading at 74.24, stronger by 3 paise from its previous close of 74.27 on Wednesday. The currency touched a high and low of 74.25 and 74.18 respectively. The reference rate for the dollar stood at 73.37, and for Euro stood 88.98 on June 16, 2021. While the reference rate for the 100 Yen stood at 66.63, the reference rate for the Great Britain Pound (GBP) stood at 103.38.
