HOME > MARKETS > DEBT MARKET
  DEBT MARKET
MONEY MARKETS
Rupee appreciates against greenback
Jan-13-2021

Continuing previous session gains, Indian rupee ended stronger against dollar on Wednesday amid fresh selling of American currency by banks and exporters. Some comfort came as data showing that Consumer Price Index (CPI)-based inflation eased to 4.59 per cent in December 2020 compared to 6.93 per cent in November. Food inflation declined to 3.41 per cent in December, compared to 9.5 per cent in the previous month. Traders ignored report that India’s factory output or Index of Industrial Production (IIP) contracted 1.9 percent for November 2020 mainly due to poor showing by manufacturing and mining sectors. Industrial production of the country had grown at 3.6 per cent in October 2020 and 2.1 per cent in November 2019. On the global front, stabilizing U.S. Treasury yields helped the dollar trade back in positive territory on Wednesday, though investors remained bearish on the currency's near-term prospects.

Finally, the rupee ended at 73.15, 10 paise stronger from its previous close of 73.25 on Tuesday. The currency touched a high and low of 73.23 and 73.10 respectively. The reference rate for the dollar stood at 73.37, and for Euro stood 89.17 on January 12, 2021. While the reference rate for the Yen stood at 70.40, the reference rate for the Great Britain Pound (GBP) stood at 99.36.

  RELATED NEWS >>