Indian rupee strengthened against the US dollar on Tuesday tracking firm domestic equities following sustained foreign fund inflows. Foreign Institutional Investors (FII) bought shares worth Rs 650.60 crore on a net basis on Monday, exchange data showed. Further, weakness in the American currency ahead of US Treasury Secretary nominee Janet Yellen testimony later in the day for clues on the policies of the incoming Joe Biden government also supported rupee sentiment. Though, global uncertainty surrounding the resurging corona virus cases in many countries capped rupee upside.
The partially convertible currency is currently trading at 73.20, stronger by 8 paise from its previous close of 73.28 on Monday. The currency touched a high and low of 73.2050 and 73.1400 respectively. The reference rate for the dollar stood at 73.02, and for Euro stood 88.64 on January 15, 2021. While the reference rate for the Yen stood at 70.37, the reference rate for the Great Britain Pound (GBP) stood at 99.82.
