Indian rupee strengthened against the US dollar on Tuesday, tracking firm trend in domestic equities, while the US Fed chief Jerome Powell's speech at Jackson Hole Symposium expressed expectations that the Fed will keep supporting the market with low interest rates. Moreover, fresh foreign fund inflows and weakness in the American currency overseas also supported the rupee sentiment. Foreign Institutional Investors (FIIs) net bought shares worth Rs 1,202.81 crore, while Domestic Institutional Investors (DIIs) net bought shares worth Rs 688.85 crore in the Indian equity market on Monday, exchange data showed. On the global front, the US dollar held near two-week lows against its peers ahead of US jobs figures later in the week.
The partially convertible currency is currently trading at 73.17, stronger by 12 paise from its previous close of 73.29 on Monday. The currency touched a high and low of 73.2900 and 73.1325 respectively.
