Indian rupee strengthened against the US dollar on Tuesday tracking firm domestic equities amid sustained foreign fund inflows with optimism surrounding the rollout of corona virus vaccines and US stimulus deal. Foreign Institutional Investors (FIIs) bought shares worth Rs 3,792.06 crore on a net basis on Monday, exchange data showed. However, RBI's presence in the market and concerns over surging corona virus cases worldwide capped some gains.
The partially convertible currency is currently trading at 73.76, stronger by 14 paise from its previous close of 73.90 on Monday. The currency touched a high and low of 73.8300 and 73.7500 respectively. The reference rate for the dollar stood at 73.74, and for Euro stood 89.64 on December 04, 2020. While the reference rate for the Yen stood at 70.99, the reference rate for the Great Britain Pound (GBP) stood at 99.25.
