Indian rupee strengthened against the US dollar on Thursday, tracking firm domestic equities amid fresh foreign fund inflows. Foreign Institutional Investors (FIIs) emerged as net buyers as they bought shares worth Rs 238.14 crore in the capital market on Wednesday, exchange data showed. Besides, weak American currency also supported rupee sentiments. However, rising crude oil prices overseas capped further gains in rupee. On the global front, the US dollar held near a four-month peak against its major peers after retreating overnight as a cooling in consumer inflation tempered bets for an earlier tightening of US monetary policy.
The partially convertible currency is currently trading at 74.29, stronger by 15 paise from its previous close of 74.44 on Wednesday. The currency touched a high and low of 74.3050 and 74.2400 respectively.
