Indian rupee strengthened against the US dollar on Tuesday tracking firm domestic equities and weakness in the American currency overseas. Though, sustained foreign fund outflows and concerns over the impact of corona virus outbreak weighed on the domestic currency and capped its gains. Foreign Institutional Investors (FIIs) sold equity shares worth Rs 1,373.98 crore on Monday, exchange data showed. The death toll rose to 1,568 and the number of cases climbed to 46,433 in the country on Monday, while the number of cases around the world linked to the disease has crossed over 35.84 lakh and the death toll has topped 2.51 lakh.
The partially convertible currency is currently trading at 75.54, stronger by 19 paise from its previous close of 75.73 on Monday. The currency touched a high and low of 75.6275 and 75.5050 respectively. The reference rate for the dollar stood at 75.11 and for Euro stood at 81.61 on April 30, 2020. While the reference rate for the Yen stood at 70.48, the reference rate for the Great Britain Pound (GBP) stood at 93.59.
