Rupee strengthens against US dollar on Friday
Indian Rupee strengthened against the US dollar on Friday, supported by positive domestic equities, weak crude oil prices and soft American currency at overseas markets. Meanwhile, upcoming inflows from fundraising activities by IREDA of $570 million are expected to provide some support to the rupee. However, some gains were limited by sustained foreign fund outflows from the capital markets. Foreign Institutional Investors remained net sellers in the capital markets on Thursday, as they offloaded shares worth Rs 5,462.52 crore, exchange data showed.
The partially convertible currency is currently trading at 86.35, stronger by 9 paise from its previous close of 86.44 on Thursday. The currency touched a high and low of 86.35 and 86.2650 respectively.
