Rupee strengthens against US dollar on Thursday
Indian rupee strengthened against the US dollar on Thursday after the US Federal Reserve held its key interest rate unchanged yesterday. Moreover, fall in US Treasury yields, weak American currency and firm domestic equities also supported rupee sentiments. However, sustained foreign fund outflows, rise in crude oil prices and conflict in the Middle East have limited further gains in rupee. Foreign Institutional Investors were net sellers in the capital markets as they sold shares worth Rs 1,816.91 crore on Wednesday, exchange data showed.
The partially convertible currency is currently trading at 83.23, stronger by 5 paisa from its previous close of 83.28 on Wednesday. The currency touched a high and low of 83.2350 and 83.19 respectively.
