Rupee strengthens marginally against US dollar on Wednesday
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Indian rupee strengthened marginally against the US dollar on Wednesday, tracking firm domestic equities, in spite of strengthening American currency and exodus of foreign funds from Indian equities to China. Foreign institutional investors were net sellers in the capital markets on Tuesday, as they offloaded shares worth Rs 3,978.61 crore, exchange data showed. However, some gains were limited by conflicts in the Middle East and uncertainty surrounding the upcoming US presidential election.
The partially convertible currency is currently trading at 84.07, stronger by 1 paise from its previous close of 84.08 on Tuesday. The currency touched a high and low of 84.0750 and 84.07 respectively.
