Rupee strengthens against US dollar in early trade on Tuesday
The Indian rupee strengthened against the US dollar in early trade on Tuesday as crude oil prices eased on hopes of a fresh US-Iran ceasefire, despite fresh threats by Yemen's Houthi rebels to impose a naval blockade on Saudi Arabia. The rupee also strengthened after the Reserve Bank of India stated that its recent measures to strengthen the balance of payments had attracted more than $20 billion in capital inflows. Meanwhile, Foreign Institutional Investors offloaded equities worth Rs 1,121.04 crore on a net basis on Monday, exchange data showed.
The partially convertible currency is currently trading at 96.33, stronger by 3 paise from its previous close of 96.36 on Monday. The currency touched a high and low of 96.42 and 96.29 respectively.
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