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Published on 23/04/2021 12:46:20 PM | Source: Accord Fintech

Rupee trades almost flat against US dollar on Friday

Posted in Currency Top News| #Rupee #US dollar #Currency News

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Indian rupee was trading almost flat against the US dollar on Friday, despite a weakening dollar, with concerns that the second wave of Covid-19 pandemic may dent the economic recovery of the country. Data from Union Health Ministry today showed that with a record single-day rise of 332,730 new corona-virus infections, India's total tally of Corona-virus cases climbed to 16,263,695, while active cases crossed the 24-lakh mark, while the national corona-virus recovery rate has further dropped to 83.92 percent. Moreover, foreign fund outflows also weighed on rupee sentiment. Foreign Institutional Investors (FIIs) sold Rs 909.56 crore, while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 849.98 crore on Thursday, exchange data showed. On the global front, US dollar was trading in a narrow range as traders eyeing the next moves by major central banks ahead of a US Federal Reserve meeting next week.

The partially convertible currency is currently trading almost flat at its previous close of 74.94 on Thursday. The currency touched a high and low of 75.0600 and 74.8300 respectively. The reference rate for the dollar stood at 75.16, and for Euro stood 90.03 on April 15, 2021. While the reference rate for the Yen stood at 69.02, the reference rate for the Great Britain Pound (GBP) stood at 103.58.