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14-09-2023 11:57 AM | Source: Accord Fintech
Rupee strengthens against US dollar on Thursday
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Indian rupee strengthened against the US dollar on Thursday tracking firm domestic equities and as higher-than-expected US inflation data fuelled expectations that the US Federal Reserve would not raise interest rates at its meeting next week. However, elevated crude oil prices and foreign fund outflows limited further gains in rupee. Foreign Institutional Investors were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 1,631.63 crore, exchange data showed.
The partially convertible currency is currently trading at 82.97, stronger by 4 paise from its previous close of 83.01 on Wednesday. The currency touched a high and low of 82.98 and 82.93 respectively.
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