Indian rupee strengthened against the US dollar on Tuesday, following firm trend at domestic equities. Union Finance Minister Nirmala Sitharaman announced an ambitious Rs 6 lakh crore National Monetisation Pipeline scheme that included unlocking value by involving private companies across infrastructure sectors ranging from passenger trains and railway stations to airports, roads and stadiums. However, foreign fund outflows, higher crude prices and concerns over continued spread of the Delta coronavirus variant have capped gains in rupee. Foreign Institutional Investors (FIIs) remained net sellers as they offloaded shares worth Rs 1,363.36 crore in the capital market on Friday, exchange data showed.
The partially convertible currency is currently trading at 74.12, stronger by 10 paise from its previous close of 74.22 on Monday. The currency touched a high and low of 74.1550 and 74.1100 respectively.
