Rupee strengthens against US dollar on Thursday

Indian rupee strengthened against the US dollar on Thursday, tracking firm domestic equities. Further, volatility in the US dollar index also supported rupee sentiment. Although, Foreign Institutional Investors (FIIs) were net sellers as they offloaded shares worth Rs 2,834.96 crore in the capital market on Tuesday, exchange data showed. Forex market was closed on Wednesday on account of 'Bakri Id.

The partially convertible currency is currently trading at 74.39, stronger by 22 paise from its previous close of 74.61 on Tuesday. The currency touched a high and low of 74.4900 and 74.3300 respectively.

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