Indian rupee gained strength against the US dollar on Thursday rebounding from its previous session’s biggest single-day fall in nearly two years, whetted by increased foreign inflows , firmer domestic stock markets, weaker crude oil rates, and subdued US currency. The domestic currency got appreciated mostly at 74.19 level in the session today. On the global front, the greenback blenched to a two week low level against its peers in tandem with retreat in bond yields as the Federal Reserve’s March policy meeting failed to provide any major cues.
The partially convertible currency is currently trading at 73.88, stronger by 9 paise from its previous close of 73.42 on Wednesday. The currency touched a high and low of 74.4700 and 74.1900 respectively. The reference rate for the dollar stood at 73.50, and for Euro stood 86.09 on March 31, 2021. While the reference rate for the 100 Yen stood at 66.36, the reference rate for the Great Britain Pound (GBP) stood at 100.95.