Rupee strengthens against US dollar on Tuesday
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Indian rupee strengthened against the US dollar on Tuesday amid a weak American currency overseas and foreign fund inflows into Indian capital market. Foreign Institutional Investors were bought shares worth Rs 16.03 crore on Monday, exchange data showed. Moreover, gains in Asian currencies and domestic equities also supporting rupee. Meanwhile, investors are awaiting US inflation report due this week that could offer more clarity on the US Federal Reserve's monetary policy outlook.
The partially convertible currency is currently trading at 83.12, stronger by 2 paise from its previous close of 83.14 on Monday. The currency touched a high and low of 83.1350 and 83.04 respectively.
