Rupee strengthens against US dollar in early trade on Thursday
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Indian rupee strengthened against the US dollar in early trade on Thursday supported by broad dollar weakness. Traders got encouragement as the government data showed the country's gross direct tax collection rose 24.58 per cent to Rs 14.71 lakh crore till January 10 this fiscal, buoyed by an upsurge in personal income tax mop-up. After adjusting refunds, net direct tax collection stood at Rs 12.31 lakh crore, 19.55 per cent higher than the net collections for the corresponding period of last year. However, upside remained capped on foreign fund outflows. Foreign Institutional Investors (FIIs) were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 3,208.15 crore, exchange data showed.
The partially convertible currency is currently trading at 81.64, stronger by 4 paise from its previous close of 81.68 on Wednesday. The currency touched a high and low of 81.68 and 81.59 respectively.
