Rupee strengthens against US dollar on Friday
The Indian rupee strengthened against the US dollar on Friday tracking sustained foreign fund inflows into the Indian capital market, while the RBI said in its latest annual report that the country is poised to remain the fastest-growing major economy in the world even in FY26. Foreign institutional investors purchased equities worth Rs 884.03 crore on a net basis on Thursday, exchange data showed. Moreover, lower crude oil prices supported rupee sentiments. However, firm American currency and volatile equity markets limited the rupee's gains and as traders stayed cautious ahead of the release of domestic GDP data.
The partially convertible currency is currently trading at 85.37, stronger by 11 paise from its previous close of 85.48 on Thursday. The currency touched a high and low of 85.4575 and 85.25 respectively.
