Rupee strengthens against US dollar on Tuesday
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Indian rupee strengthened against the US dollar in early trade on Tuesday, ahead of Finance Minister Nirmala Sitharaman's Union Budget presentation, that could provide further cues on fiscal deficit, capital expenditure, tax revenue and GST among others. Moreover, foreign fund inflows, and weaker American currency have also supported the rupee. Foreign Institutional Investors were net buyers in the capital markets on Monday as they purchased shares worth Rs 3,444.06 crore, exchange data showed. However, some gains were limited by uncertainty over the 2024 US presidential election.
The partially convertible currency is currently trading at 83.63, stronger by 3 paise from its previous close of 83.66 on Monday. The currency touched a high and low of 83.65 and 83.62 respectively
