Indian rupee was strengthened against the US dollar on Wednesday as foreign portfolio investment flows lifted investor sentiment. Foreign institutional investors (FIIs) bought shares worth Rs 1,300.65 crore on Tuesday, exchange data showed. Further, weakness in American currency and optimism over monetary and fiscal support from US policymakers too boosted rupee sentiment. Though, weak domestic equity market capped further gains.
The partially convertible currency is currently trading at 72.84, stronger by 3 paise from its previous close of 72.87 on Tuesday. The currency touched a high and low of 72.8800 and 72.8400 respectively. The reference rate for the dollar stood at 72.86, and for Euro stood 87.71 on February 08, 2021. While the reference rate for the Yen stood at 69.05, the reference rate for the Great Britain Pound (GBP) stood at 100.04.
