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Indian rupee strengthened marginally against the US dollar on Monday, driven by a firm trend in domestic equities and weakness in American currency. However, sustained foreign fund outflows along with elevated crude oil following heightened geopolitical tensions between western powers and major oil producers Russia and Iran, limited further gains in rupee. Foreign institutional investors were net sellers in the capital markets on Friday, as they offloaded shares worth Rs 1,278.37 crore, exchange data showed. Meanwhile, investors are awaiting the Federal Reserve’s minutes of November monetary policy committee meeting due on November 27. 

The partially convertible currency is currently trading at 84.28, stronger by 13 paise from its previous close of 84.41 on Friday. The currency touched a high and low of 84.3800 and 84.2750 respectively.