22-09-2023 12:52 PM | Source: Accord Fintech
Rupee strengthens against US dollar on Friday
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Indian rupee strengthened against the US dollar on Friday after JPMorgan’s decision to include Indian government bonds in its benchmark emerging-market index, that could lead to inflows of billions of dollars into India. However, Foreign Institutional Investors were net sellers in the capital market as they offloaded shares worth Rs 3,007.36 crore on Thursday, exchange data showed. On the global front, US dollar held firm against major currencies overseas after the US Federal Reserve signalled another interest rate hike this year and tighter monetary conditions through 2024.
The partially convertible currency is currently trading at 82.93, stronger by 20 paise from its previous close of 83.13 on Thursday. The currency touched a high and low of 82.9750 and 82.7550 respectively.
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