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Rupee strengthens against US dollar on Monday
Sep-21-2020

Indian rupee strengthened against the US dollar on Monday, supported by weak American currency overseas as investors looked ahead to a slew of US Federal Reserve speakers this week for further clues on the US central bank’s approach to inflation. Meanwhile, investors will be keeping an eye on the fiscal deficit number that released next week. Foreign Institutional Investors (FIIs) purchased shares worth Rs 205.15 crore on a net basis on Friday, exchange data showed. Moreover, the Union health ministry said that India has the highest number of recovered corona virus patients globally, constituting 19% of the total recoveries across the world, even as the country continues to be the second worst-hit nation.

The partially convertible currency is currently trading at 73.27, stronger by 18 paise from its previous close of 73.45 on Friday. The currency touched a high and low of 73.4300 and 73.2650 respectively. The reference rate for the dollar stood at 73.29 and for Euro stood 86.88 on September 18, 2020. While the reference rate for the Yen stood at 69.93, the reference rate for the Great Britain Pound (GBP) stood at 95.06.

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