Indian rupee strengthened against the US dollar on Thursday, tracking firm domestic equities and sustained foreign fund inflows. Foreign Institutional Investors (FIIs) were net buyers in the capital market as they purchased shares worth Rs 666.66 crore on Wednesday, exchange data showed. However, reports of devastating second wave of Covid-19 pandemic limited some gains in rupee. On the global front, the US dollar held around multi-weak lows versus major peers followed by softer-than-expected US labour data as traders awaited a fuller jobs report which is crucial for the US Federal Reserve's tapering timeline.
The partially convertible currency is currently trading at 72.98, stronger by 10 paise from its previous close of 73.08 on Wednesday. The currency touched a high and low of 73.1125 and 72.9700 respectively.
