Rupee gains marginally against US dollar on Friday
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Indian rupee was strengthened marginally against the US dollar on Friday tracking sustained inflow of foreign capital. Foreign Institutional Investors were net buyers in the capital markets on Thursday as they purchased shares worth Rs 415.30 crore, exchange data showed. However, decline in the Chinese yuan and Japanese yen negatively impacted emerging market currencies. Uncertainty over Fed’s interest rates with Minneapolis Fed President Kashkari said it would likely take a year or two for the US to get back to 2% inflation, also kept rupee under pressure and limited further gains in local unit.
The partially convertible currency is currently trading at 83.60, stronger by 1 paisa from its previous close of 83.61 on Thursday. The currency touched a high and low of 83.6325 and 83.5650 respectively.
