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Indian rupee strengthened against the US dollar on Tuesday tracking firm domestic equities, despite fears over the conflict in the Middle East. Meanwhile, two US Federal Reserve officials suggested interest rates might remain steady at their next policy meeting because a surge in longer-term bond yields might be helping to cool inflation without further action by the US Federal Reserve. However, Foreign Institutional Investors were net sellers in the capital market as they offloaded shares worth Rs 997.76 crore on Monday, exchange data showed.

The partially convertible currency is currently trading at 83.25, stronger by 3 paise from its previous close of 83.28 on Monday. The currency touched a high and low of 83.26 and 83.22 respectively.