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Rupee strengthens against US dollar on Friday
Mar-27-2020

Indian rupee strengthened against the US dollar on Friday after the government announced Rs 1.7 lakh crore stimulus packages for segments hit by corona virus-led lockdowns. Meanwhile, RBI's Monetary Policy Committee (MPC) reduced the policy repo rate by 75 basis points to 4.4% to help arrest the economic slowdown. Globally, a series of stimulus steps including a $2.2 trillion US package calmed a panic over a global recession following the corona virus outbreak. Though, Foreign Institutional Investors (FIIs) sold equity shares worth Rs 484.78 crore on Thursday, exchange data showed.

The partially convertible currency is currently trading at 74.82, stronger by 34 paise from its previous close of 75.16 on Thursday. The currency touched a high and low of 74.8375 and 74.3500 respectively. The reference rate for the dollar stood at 76.15 and for Euro stood at 82.11 on March 24, 2020. While the reference rate for the Yen stood at 68.98, the reference rate for the Great Britain Pound (GBP) stood at 88.50. 

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