Rupee strengthens against US dollar on Friday
The Indian rupee strengthened against the US dollar on Friday amid foreign fund inflows. Foreign Institutional Investors (FIIs) purchased equities worth Rs 997.29 crore on Thursday. Traders took encouragement as Commerce and Industry Minister Piyush Goyal said that India has implemented a number of free trade agreements with developed nations and is in active dialogue for such pacts with nations including the US, Oman, and the EU. Separately, India and Australia have discussed ways to enhance cooperation and promote dialogue in the field of energy efficiency and enabling technologies.
The partially convertible currency is currently trading at 87.91, stronger by 5 paise from its previous close of 87.96 on Thursday. The currency touched a high and low of 87.9175 and 87.7500 respectively.
