Rupee strengthens against US dollar on Friday
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Indian rupee strengthened against the US dollar on Friday, amid an unabated inflow of foreign funds into Indian Capital Market. Foreign Institutional Investors bought equities worth Rs 4,358.99 crore on Thursday, exchange data showed. Rupee sentiments improved further on expectations that the US Federal Reserve would cut interest rates from March next year. However, subdued equities, firm dollar yesterday and volatility in crude oil prices have limited further gains in rupee.
The partially convertible currency is currently trading at 83.10, stronger by 10 paise from its previous close of 83.20 on Thursday. The currency touched a high and low of 83.1675 and 83.10 respectively.
