Continuing previous gains, Indian rupee ended higher against dollar on Thursday due to fresh selling of the American currency by banks and exporters. This was the second consecutive session when the rupee was traded higher against dollar. Traders took a note of report that Insolvency and Bankruptcy Board of India (IBBI) has amended regulations for corporate insolvency proceedings wherein a resolution professional will be required to provide details about his or her opinion about avoidance transactions pertaining to a corporate debtor. IBBI has amended the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations. Healthy gains in the domestic equity markets also supported rupee. On the global front, euro traded just off 3-1/2 month lows versus the dollar on Thursday before a potentially momentous meeting of the ECB.
Finally, the rupee ended 74.46, stronger by 15 paise from its previous close of 74.61 on Tuesday. The currency touched a high and low of 74.53 and 74.33 respectively.
