Indian rupee strengthened against the US dollar on Thursday tracking firm domestic equities, even as sustained foreign fund outflows and surging corona-virus cases in the country adding some pressure on sentiment. Foreign Institutional Investors (FIIs) sold shares worth Rs 1,110.50 crore, while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 240.61 crore in the Indian equity market on Wednesday, exchange data showed. On the global front, US dollar consolidating ahead of a key US jobs report that may provide clues on when the Federal Reserve will dial back monetary stimulus.
The partially convertible currency is currently trading at 73.86, stronger by 5 paise from its previous close of 73.91 on Wednesday. The currency touched a high and low of 74.00 and 73.84 respectively. The reference rate for the dollar stood at 74.40, and for Euro stood 89.78 on April 28, 2021. While the reference rate for the 100 Yen stood at 68.28, the reference rate for the Great Britain Pound (GBP) stood at 103.26.