Indian rupee strengthened against the US dollar on Tuesday, as firm domestic equities, weak American currency and fresh foreign fund inflows supported investor sentiments. Foreign institutional investors (FIIs) bought shares worth Rs 740.61 crore on Monday, exchange data showed. Though, concerns over surging Covid-19 cases worldwide capped rupee’s gains. Meanwhile investors are eyeing the US presidential election, which starts later in the day.
The partially convertible currency is currently trading at 74.32, stronger by 10 paise from its previous close of 74.42 on Monday. The currency touched a high and low of 74.36 and 74.25 respectively. The reference rate for the dollar stood at 73.97 and for Euro stood 86.96 on October 29, 2020. While the reference rate for the Yen stood at 70.87, the reference rate for the Great Britain Pound (GBP) stood at 96.32.
