Rupee strengthens against US dollar in early trade on Wednesday
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Indian rupee strengthened against the US dollar in early trade on Wednesday, tracking firm domestic equities as foreign investors turning net buyers also helped the rupee sentiment. Foreign Institutional Investors (FIIs) purchased shares worth Rs 211.06 crore on Tuesday, exchange data showed. However, strengthening American currency and firm crude oil prices capped further gains in rupee. Meanwhile, market participants remained cautious ahead of the Bank of Japan’s policy statement.
The partially convertible currency is currently trading at 81.64, stronger by 5 paise from its previous close of 81.69 on Tuesday. The currency touched a high and low of 81.82 and 81.6225 respectively.
