2026-08-04 01:00:38 pm | Source: Accord Fintech
Rupee strengthens against US dollar in early trade on Tuesday
The Indian rupee strengthened against the US dollar in early trade on Tuesday amid continued foreign portfolio inflows into Indian equities, despite higher oil prices and dollar demand from domestic importers. Foreign Institutional Investors bought equities worth Rs 922.26 crore on a net basis on Monday, exchange data showed. Meanwhile, investors turned their attention to the upcoming RBI Monetary policy decision and key US economic data later this week to gauge the prospects for interest rates over the next few months. Investors remained cautious after Trump claimed on Monday that negotiations with Iran were ongoing despite Tehran's denial, and warned that the Islamic Republic was facing a last chance before decapitation.
The partially convertible currency is currently trading at 95.34, stronger by 3 paise from its previous close of 95.37 on Monday. The currency touched a high and low of 95.37 and 95.25 respectively.
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