Indian rupee strengthened against the US dollar on Friday, tracking firm domestic equities even as investors are cautious ahead of a long-awaited speech by US Federal Reserve Chair Jerome Powell. However, rising crude prices, concerns over continued spread of the Delta coronavirus variant and sustained foreign fund outflows have capped rupee gains. Foreign Institutional Investors (FIIs) were net sellers in the capital market on Thursday as they offloaded shares worth Rs 1,974.48 crore, 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 Thursday. The currency touched a high and low of 74.2025 and 74.1250 respectively.
