Rupee strengthens against US dollar on Thursday

The Indian rupee strengthened against the US dollar on Thursday amid a drop in global crude oil prices and after US President Donald Trump has indicated that the ongoing negotiations between India and the United States for a much-anticipated interim trade deal are on track and it could be sealed soon. However, weakness in domestic equities, strengthening American currency and foreign fund outflows have limited sharper gains in the domestic currency. Foreign institutional investors sold equities worth Rs 1,858.15 crore on a net basis on Wednesday, exchange data showed.
The partially convertible currency is currently trading at 85.86, stronger by 6 paise from its previous close of 85.92 on Wednesday. The currency touched a high and low of 85.93 and 85.80 respectively.









