Rupee strengthens against US dollar in early trade on Thursday
The Indian rupee strengthened against the US dollar in early trade on Thursday amid an improved risk appetite combined with a steady American currency overseas after US President Donald Trump withdrew a threat to impose tariffs on European nations and said a framework of a future deal over Greenland had been agreed. Moreover, firm equities also provided support to the domestic currency. However, some gains were limited by exchange data that showed Foreign institutional investors sold equities worth Rs 1,787.66 crore on Wednesday and traders are cautiously eyeing the delayed US PCE inflation report later today that could provide more clues on the Federal Reserve's interest rate path.
The partially convertible currency is currently trading at 91.61, stronger by 4 paise from its previous close of 91.65 on Wednesday. The currency touched a high and low of 91.63 and 91.48 respectively.
