Rupee strengthens against US dollar on Friday
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Indian rupee marginally strengthens against the US dollar on Friday, whetted by the stronger domestic buying in the stock market and larger foreign inflows. Lower crude oil rates overnight also lifted the domestic currency. The Indian currency market was closed on Thursday for Mahashivratri. On the global front, elevated US inflation rates compared to January figure also weighed on the greenback.
The partially convertible currency is currently trading at 72.6650, stronger by 25 paise from its previous close of 72.9150 on Wednesday. The currency touched a high and low of 72.7400 and 72.6300 respectively. The reference rate for the dollar stood at 72.9737, and for Euro stood 86.6227 on March 10, 2021. While the reference rate for the Yen stood at 67.02, the reference rate for the Great Britain Pound (GBP) stood at 101.0554.
