Rupee strengthens against US dollar on Tuesday
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Indian rupee strengthened against the US dollar on Tuesday ahead to release of US Federal Reserve’s January monetary policy meeting minutes on Wednesday, while softening crude oil prices at overseas market also supported rupee. Although, a strong American currency and foreign fund outflows have limited further gains in rupee. Foreign Institutional Investors were net sellers in the capital markets on Monday as they offloaded shares worth Rs 754.59 crore, exchange data showed. The currency derivatives market was closed yesterday on account of Chatrapati Shivaji Maharaj Jayanti.
The partially convertible currency is currently trading at 82.97, stronger by 4 paise from its previous close of 83.01 on Friday. The currency touched a high and low of 83.0250 and 82.9650 respectively.
