HOME > MARKETS > DEBT MARKET
  DEBT MARKET
MONEY MARKETS
Rupee strengthens against US dollar on Friday
Sep-18-2020

Indian rupee strengthened against the US dollar on Friday, tracking weakness in the American currency overseas due to disappointing employment data. The weekly jobless claims report from the US Labor Department showed that nearly 30 million people were on unemployment benefits at the end of August, laying bare the continuing economic and human devastation from the corona virus crisis. Further, firm domestic equities too buoyed investor sentiment. Though, mounting worries surrounding India-China border tensions coupled with rising corona virus pandemic cases weighed on rupee and capped the up-move. Meanwhile, Foreign Institutional Investors (FIIs) sold shares worth Rs 249.82 crore on a net basis on Thursday, exchange data showed.

The partially convertible currency is currently trading at 73.39, stronger by 27 paise from its previous close of 73.66 on Thursday. The currency touched a high and low of 73.4700 and 73.3175 respectively. The reference rate for the dollar stood at 73.74 and for Euro stood 87.36 on September 16, 2020. While the reference rate for the Yen stood at 70.00, the reference rate for the Great Britain Pound (GBP) stood at 95.07.

  RELATED NEWS >>