Indian rupee strengthened against the US dollar on Friday, supported by firm domestic equities following foreign fund inflows and positive cues from global markets. Foreign Institutional Investors (FIIs) bought shares worth Rs 979.70 crore on Thursday, exchange data showed. Further, vaccination progress in domestic markets and lack of complete lockdown in Maharashtra and Delhi too supported rupee sentiments. However, a continued surge in the second wave of Covid-19 cases in the country has capped the rupee sentiment. On the global front, US dollar was trading with small gains supported by upbeat data and rebounding yields.
The partially convertible currency is currently trading at 74.52, stronger by 41 paise from its previous close of 74.93 on Thursday. The currency touched a high and low of 74.7600 and 74.4875 respectively. The reference rate for the dollar stood at 74.37, and for Euro stood 88.28 on April 8, 2021. While the reference rate for the 100 Yen stood at 67.79, the reference rate for the Great Britain Pound (GBP) stood at 102.32.