Indian rupee strengthened against the US dollar on Friday tracking weakness of the American currency with improved risk appetite in the global markets. Further, firm domestic equities and consistent slowdown in active Covid-19 cases also lifted rupee sentiments. The Union health ministry data showed that the number of coronavirus cases recorded in India in the last 24 hours dipped to 2.59 lakh, while the nationwide tally reached 26,031,991 and the death toll climbed to 2,91,331 with 4,209 daily deaths. Foreign Institutional Investors (FIIs) bought shares worth Rs 71.04 crore, exchange data showed.
The partially convertible currency is currently trading at 72.96, stronger by 16 paise from its previous close of 73.12 on Thursday. The currency touched a high and low of 73.0050 and 72.9600 respectively. The reference rate for the dollar stood at 73.43, and for Euro stood 89.11 on May 12, 2021. While the reference rate for the 100 Yen stood at 67.51, the reference rate for the Great Britain Pound (GBP) stood at 103.79.