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Rupee gains marginally against US dollar on Friday
Jan-15-2021

Indian rupee rose marginally against the US dollar on Friday amid stimulus plan from the US President-elect Joe Biden, despite dovish comments from US Federal Reserve Chair Jerome Powell on interest rates. Further, FPI flows into the domestic equity markets supported rupee sentiments. Foreign Institutional Investors (FIIs) bought shares worth Rs 1,076.62 crore on a net basis on Thursday, exchange data showed. Moreover, Oil prices were lower followed by concerns about Chinese cities in lockdown due to corona virus outbreaks.

The partially convertible currency is currently trading at 73.03, tad stronger by one paise from its previous close of 73.04 on Thursday. The currency touched a high and low of 73.0750 and 72.9925 respectively. The reference rate for the dollar stood at 73.15, and for Euro stood 89.34 on January 13, 2021. While the reference rate for the Yen stood at 70.55, the reference rate for the Great Britain Pound (GBP) stood at 100.06.

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