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Rupee strengthens against US dollar on continued foreign fund inflows
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Indian rupee strengthened against US dollar on Tuesday, tracking continued foreign fund inflows in the capital market. Foreign Institutional Investors (FIIs) remained net buyers in the capital market on Monday as they purchased shares worth Rs 1,152.21 crore, exchange data showed. However, strength of the US dollar in the overseas market and elevated crude oil prices after the United States and Europe planned new sanctions to punish Moscow over alleged war crimes by Russian troops in Ukraine, capped further gains for the domestic currency.
The partially convertible currency is currently trading at 75.40, stronger by 13 paise from its previous close of 75.53 on Monday. The currency touched a high and low of 75.5450 and 75.38 respectively.
