Rupee strengthens against US dollar in early trade on Thursday
The Indian rupee strengthened against the US dollar in early trade on Thursday as investors are awaiting India-US trade deal confirmation and Friday's RBI interest rate decision. Investors are remained hopeful that a trade deal with the United States will help bring back foreign money into Dalal Street. Rupee improved further by dollar sales from foreign and local private lenders, most likely on behalf of corporate clients. Foreign Institutional Investors purchased equities worth Rs 29.79 crore, while Domestic Institutional Investors bought stocks worth Rs 249.54 crore on Wednesday, exchange data showed.
The partially convertible currency is currently trading at 90.44, stronger by 3 paise from its previous close of 90.47 on Wednesday. The currency touched a high and low of 90.53 and 90.3750 respectively.
