Indian rupee strengthened against the US dollar on Tuesday supported by firm domestic equities on account of global recovery prospects and after the passage of a $1.9 US trillion stimulus bill. Although, strong American currency overseas and higher crude oil prices have capped rupee’s gains. Meanwhile, Foreign Institutional Investors (FIIs) offloaded shares worth of Rs 1,494.49 crore on Monday, exchange data showed.
The partially convertible currency is currently trading at 73.10, stronger by 15 paise from its previous close of 73.25 on Monday. The currency touched a high and low of 73.2500 and 73.0750 respectively. The reference rate for the dollar stood at 72.75, and for Euro stood 86.98 on March 04, 2021. While the reference rate for the Yen stood at 67.27, the reference rate for the Great Britain Pound (GBP) stood at 101.01.
