Indian rupee strengthened against the US dollar on Monday, tracking a firm trend in the domestic equity market. Although, foreign fund outflows, surging crude oil prices and slightly stronger American currency have weighed on investor sentiment and capped further gains for the red metal. Foreign Institutional Investors (FIIs) were net sellers as they offloaded shares worth Rs 1,124.65 crore in the capital market on Friday, exchange data showed.
The partially convertible currency is currently trading at 74.44, stronger by 20 paise from its previous close of 74.64 on Friday. The currency touched a high and low of 74.51 and 74.4075 respectively.
