Rupee strengthens against US dollar on Monday
Indian rupee strengthened against the US dollar on Monday due to declining crude oil prices in the overseas market followed by a jump in US inventories. Rupee sentiments improved further by tracking foreign fund inflows into the capital markets, with data showed that Foreign Institutional Investors were net buyers in the capital markets on Friday as they purchased worth Rs 1,276.09 crore. However, subdued equity market and firm American currency with caution ahead of GDP growth figures for India and the United States, have limited further gains in rupee.
The partially convertible currency is currently trading at 82.89, stronger by 2 paise from its previous close of 82.91 on Friday. The currency touched a high and low of 82.91 and 82.8850 respectively.
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