Indian rupee was trading marginally higher against US dollar on Tuesday, even as market participants cautiously await the RBI monetary policy outcome to be announced on Friday. Finance Minister Nirmala Sitharaman said the government estimates the fiscal deficit for this year at 9.5% of the Gross Domestic Product (GDP) and 6.8% for 2021-22. Foreign institutional investors (FIIs) bought shares worth Rs 1,494.23 crore, while Domestic Institutional Investors (DIIs) sold shares worth Rs 90.46 crore on Monday, exchange data showed.
The partially convertible currency is currently trading at 73.00, tad stronger by 2 paise from its previous close of 73.02 on Monday. The currency touched a high and low of 73.0500 and 72.9925 respectively. The reference rate for the dollar stood at 72.95, and for Euro stood 88.30 on January 29, 2021. While the reference rate for the Yen stood at 69.82, the reference rate for the Great Britain Pound (GBP) stood at 100.01.
