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Rupee strengthens marginally against US dollar on Thursday
Jan-14-2021

Indian rupee strengthened marginally against the US dollar on Thursday despite volatility in the domestic equities. Moreover, FPI flows into the domestic equity markets supported rupee sentiments. Foreign Institutional Investors (FIIs) bought shares worth Rs 1,879.06 crore on a net basis on Wednesday, exchange data showed. Meanwhile, investors are awaiting the US stimulus details as President-elect Joe Biden prepared to outline his plans for massive fiscal stimulus. However, strong American currency at overseas markets and rising crude oil prices capped the upmove.

The partially convertible currency is currently trading at 73.12, stronger by 3 paise from its previous close of 73.15 on Wednesday. The currency touched a high and low of 73.1850 and 73.1050 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.

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