Indian rupee strengthened against the US dollar on Tuesday, despite American currency strengthened overseas against its major rivals as investors cited new round of lockdowns in Europe and record-high daily corona virus cases in the United States. Though, lack of progress towards a US fiscal stimulus added pressure on domestic currency. Meanwhile, Foreign Institutional Investors (FIIs) sold shares worth Rs 119.42 crore, while Domestic Institutional Investors (DIIs) too sold worth of Rs 979.16 crore in the Indian equity market on Monday, exchange data showed.
The partially convertible currency is currently trading at 73.80, stronger by 4 paise from its previous close of 73.84 on Monday. The currency touched a high and low of 73.9450 and 73.80 respectively. The reference rate for the dollar stood at 73.57 and for Euro stood 86.77 on October 23, 2020. While the reference rate for the Yen stood at 70.26, the reference rate for the Great Britain Pound (GBP) stood at 96.05.
