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Indian rupee strengthened marginally against the US dollar on Tuesday on account of muted dollar in the overseas markets. Meanwhile, foreign fund inflows, firm domestic equities and easing crude oil prices have also supported the rupee. Foreign institutional investors were net buyers in the capital markets on Monday, as they purchased shares worth Rs 60.98 crore, exchange data showed. But investors are cautiously awaiting US CPI data to be released on Thursday, which is key to gauge on Federal Reserve interest rate cut timeline.

The partially convertible currency is currently trading at 83.49, stronger by 1 paise from its previous close of 83.50 on Monday. The currency touched a high and low of 83.5150 and 83.4825 respectively.