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Rupee strengthens marginally against US dollar on Wednesday
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Indian rupee strengthened marginally against the US dollar on Wednesday tracking a sharp drop in crude oil prices overnight. However, some gains were capped by sustained foreign fund outflows and strength of the American currency ahead of US Fed chairman Jerome Powell's speech on the central bank's future monetary policy path. Foreign Institutional Investors were net sellers in the capital markets on Tuesday as they sold shares worth Rs 497.21 crore, exchange data showed.
The partially convertible currency is currently trading at 83.26, stronger by 1 paise from its previous close of 83.27 on Tuesday. The currency touched a high and low of 83.2675 and 83.2350 respectively.
