Indian rupee strengthened against the US dollar on Tuesday, tracking firm trend at the domestic equity market. Further, weakness in American currency against a basket of major currencies ahead of US inflation data to be released by the Federal Reserve on Wednesday, too supported rupee sentiment. However, foreign fund outflows and firm crude oil prices capped further appreciation of the domestic unit. Foreign institutional investors (FIIs) were net sellers as they offloaded shares worth Rs 745.97 crore in the capital market on Monday, exchange data showed.
The partially convertible currency is currently trading at 74.44, stronger by 14 paise from its previous close of 74.58 on Monday. The currency touched a high and low of 74.4950 and 74.4100 respectively.
