Indian rupee strengthens against US dollar on Tuesday
The Indian rupee strengthened from its all-time low against the US dollar on Tuesday as crude oil prices fell after US President Donald Trump signalled a potential de-escalation of the conflict with Iran. A weaker American currency combined with firm domestic equities have also supported the rupee, while heavy foreign fund outflows capped sharp gains. Foreign institutional investors sold equities worth Rs 6,345.57 crore on a net basis on Monday, exchange data showed.
The partially convertible currency is currently trading at 92.09, stronger by 12 paise from its previous close of 92.21 on Monday. The currency touched a high and low of 92.1925 and 91.89 respectively.
