Rupee strengthens against US dollar on Tuesday
Indian rupee strengthened marginally against the US dollar on Tuesday, even with investors cautious ahead of the release of inflation data from India and the United States. Meanwhile, foreign fund inflows and weakness of the American currency at overseas market supported rupee sentiments. Foreign institutional investors were net buyers in the capital markets on Monday as they bought shares worth Rs 4,212.76 crore, exchange data showed. Although, rupee’s gains were limited by a possible intervention from the Reserve Bank of India to prevent a significant appreciation in the rupee.
The partially convertible currency is currently trading at 82.7450, stronger by 1 paise from its previous close of 82.7550 on Monday. The currency touched a high and low of 82.76 and 82.7250 respectively.
