Rupee strengthens marginally against US dollar on Thursday
Indian rupee strengthened marginally against the US dollar on Thursday, even as expectations of multiple interest rate hikes by the Federal Reserve in 2022 and its aggressive plans to shrink down the massive $9 trillion balance sheet bolstered the American currency. Meanwhile, investors are awaiting cues from the RBI monetary policy meeting outcome which will be announced on April 8. However, Foreign Institutional Investors (FIIs) remained net sellers in the capital market on Wednesday as they offloaded shares worth Rs 2,279.97 crore, exchange data showed.
The partially convertible currency is currently trading at 75.81, stronger by 3 paise from its previous close of 75.84 on Wednesday. The currency touched a high and low of 75.9950 and 75.78 respectively.
