Rupee strengthens against US dollar on Monday
India rupee strengthened against the US dollar on Monday supported by firm domestic equities along with sustained foreign fund inflows into the capital market. Foreign Institutional Investors (FIIs) were net buyers in the capital market on June 30 as they purchased shares worth Rs 6,397.13 crore, exchange data showed. Moreover, record GST collection also supported rupee sentiments. India's Goods & Services Tax (GST) collections rose 12% to over Rs 1.61 lakh crore in June, the Finance Ministry said. Meanwhile investors are now awaiting the US Federal Reserve's interest rate decision on Wednesday.
The partially convertible currency is currently trading at 81.85, stronger by 25 paise from its previous close of 82.10 on Friday. The currency touched a high and low of 82.01 and 81.76 respectively.
