Indian rupee strengthened against the US dollar on Monday, tracking firm trend in domestic equity market following positive cues globally after the US Federal Reserve chief Jerome Powell said that the US central bank was still far from pulling interest rates off the record low. Moreover, weakness in the American currency also helped domestic currency to get strengthen. However, 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 Friday as they offloaded shares worth Rs 778.75 crore, exchange data showed.
The partially convertible currency is currently trading at 73.51, stronger by 18 paise from its previous close of 73.69 on Friday. The currency touched a high and low of 73.5400 and 73.3825 respectively.
