Rupee strengthens against US dollar on Friday
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Indian rupee strengthened against the US dollar on Friday tracking firm domestic equities. The Reserve Bank of India’s Monetary Policy Committee has kept the key policy repo rate unchanged at 6.5% for the fourth consecutive meeting. Meanwhile, investors are awaiting US weekly unemployment data later in the day. However, foreign fund outflows and strengthening American currency limited further gains in rupee. Foreign institutional investors were remained net sellers in the capital market on Thursday, offloading shares worth Rs 1,864.20 crore, exchange data showed.
The partially convertible currency is currently trading at 83.23, stronger by 2 paise from its previous close of 83.25 on Thursday. The currency touched a high and low of 83.2375 and 83.1825 respectively.
