Indian rupee strengthened marginally against US dollar on Tuesday, supported by firm domestic equities and easing crude oil prices. Concerns over strengthening American currency along with foreign fund outflows have, however, pressurizing the rupee sentiments. Foreign institutional investors (FIIs) net sold shares worth Rs 786.98 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 542.70 crore in the Indian equity market on March 22, exchange data showed. Meanwhile, global markets awaited comments on economic health from Federal Reserve Chair Jerome Powell and Treasury Secretary Janet Yellen later in the day.
The partially convertible currency is currently trading at 72.33, stronger by 4 paise from its previous close of 72.37 on Monday. The currency touched a high and low of 72.3750 and 72.3375 respectively. The reference rate for the dollar stood at 72.51, and for Euro stood 86.45 on March 19, 2021. While the reference rate for the Yen stood at 66.64, the reference rate for the Great Britain Pound (GBP) stood at 100.94.
