Indian rupee strengthened against the US dollar on Friday tracking marginal gains in Asian peers and firm domestic equities, while investors are cautious ahead of inflation in the US due tonight. Traders would also track the Reserve Bank of India's reserves data that will be released after market hours. However, uptick in the American currency and foreign fund outflows capped further gains in rupee. Foreign Institutional Investors (FIIs) offloaded shares worth Rs 660.90 crore in the capital market on Thursday, exchange data showed.
The partially convertible currency is currently trading at 72.43, stronger by 17 paise from its previous close of 72.60 on Thursday. The currency touched a high and low of 72.4625 and 72.3175 respectively. The reference rate for the dollar stood at 73.11, and for Euro stood 89.12 on May 20, 2021. While the reference rate for the 100 Yen stood at 67.01, the reference rate for the Great Britain Pound (GBP) stood at 103.27.