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Rupee strengthens on US dollar’s weakness overseas
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Indian rupee strengthened against the US dollar on Friday, tracking the weakness of the American currency in the overseas market. Meanwhile, decline in crude oil prices also supporting rupee’s upside momentum. However, weak domestic equities following persistent FII outflows capped gains in rupee. Foreign institutional investors (FIIs) remained net sellers in the capital market as they sold shares worth Rs 1,740.71 crore on Thursday, exchange data showed.
The partially convertible currency is currently trading at 76.15, stronger by 18 paise from its previous close of 76.33 on Thursday. The currency touched a high and low of 76.1775 and 76.1275 respectively.
