Rupee strengthens marginally against US dollar on Monday
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Indian rupee strengthened marginally against the US dollar on Monday, despite a firmer American currency and rise US Treasury yields ahead the outcome of the upcoming US presidential election on November 5. Meanwhile, firm domestic equities, weak crude oil prices and intervention by the Reserve Bank of India have also supported rupee at lower levels. Although, the rupee remains under intense pressure and limited further gains on significant foreign fund outflows from the Indian capital market. Foreign institutional investors were net sellers in the capital markets on Friday, as they offloaded shares worth Rs 3,036.75 crore, exchange data showed.
The partially convertible currency is currently trading at 84.07, stronger by 1 paise from its previous close of 84.08 on Friday. The currency touched a high and low of 84.08 and 84.0750 respectively.
