Rupee strengthens against US dollar on Friday
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Indian rupee strengthened against the US dollar on Friday tracking firm domestic equities, even as slew of Fed officials warned that the US Fed still needed more confidence to cut interest rates, and that the timing of the move remained uncertain. However, some gains were limited by firm dollar, higher imported commodity prices and foreign fund outflows. Foreign Institutional Investors were net sellers in the capital markets on Thursday, as they offloaded shares worth Rs 776.49 crore, exchange data showed.
The partially convertible currency is currently trading at 83.48, stronger by 2 paise from its previous close of 83.50 on Thursday. The currency touched a high and low of 83.5050 and 83.45 respectively.
