Rupee strengthens against US dollar on Friday
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Indian rupee strengthened against the US dollar on Friday, tracking a weak American currency against major rivals overseas ahead of Friday’s US non-farm payroll data. However, foreign fund outflows and rising crude oil prices, limited further gains in rupee. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Thursday, as they sold shares worth Rs 964.47 crore on a net basis, exchange data showed.
The partially convertible currency is currently trading at 83.37, stronger by 9 paise from its previous close of 83.46 on Thursday. The currency touched a high and low of 83.4075 and 83.3475 respectively.
