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Rupee strengthens slightly against US dollar on Tuesday
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Indian rupee strengthened slightly against the US dollar on Tuesday tracking a retreating American currency, weakness in the crude oil prices, and likely intervention by the Reserve Bank of India (RBI). However, unabated outflow of foreign funds and persisting Middle East tensions have limited further gains in rupee sentiments. Foreign institutional investors were net sellers in the capital markets on Monday, as they offloaded shares worth Rs 2,261.83 crore, exchange data showed.
The partially convertible currency is currently trading at 84.06, stronger by 1 paise from its previous close of 84.07 on Monday. The currency touched a high and low of 84.0775 and 84.0625 respectively.
