Indian rupee strengthened against the US dollar on Tuesday tracking firm trends among Asian and emerging market currencies, while recovery in the domestic as well as Asian equities also supported rupee sentiments. However, worries about rising Covid cases in China and an aggressive pace of US interest rate hikes capped further strength in rupee. Foreign Institutional Investors (FIIs) were net sellers in the capital market on Monday as they offloaded shares worth Rs 3,302.85 crore, exchange data showed.
The partially convertible currency is currently trading at 76.52, stronger by 12 paise from its previous close of 76.64 on Monday. The currency touched a high and low of 76.5350 and 76.4375 respectively.