Rupee strengthens against US dollar on Thursday
Indian rupee gained marginally against the US dollar on Thursday, despite volatility in the domestic equities. Further, weakness in American currency supported rupee sentiment. Although concerns over surging corona-virus cases capped further gains. Union Health Ministry data showing that with 2,76,110 new coronavirus infections being reported in a day, India's total tally of Covid-19 cases climbed to 2,57,72,440, while the death toll is at 2,87,122. Meanwhile, Foreign Institutional Investors (FIIs) offloaded shares worth Rs 697.75 crore, exchange data showed.
The partially convertible currency is currently trading at 73.12, stronger by 6 paise from its previous close of 73.18 on Wednesday. The currency touched a high and low of 73.1750 and 73.1000 respectively. The reference rate for the dollar stood at 73.43, and for Euro stood 89.11 on May 12, 2021. While the reference rate for the 100 Yen stood at 67.51, the reference rate for the Great Britain Pound (GBP) stood at 103.79.
