Indian rupee strengthened against the US dollar on Thursday, tracking firm trend in the domestic equities. Further, weakness in the American currency at overseas markets as the US central bank plans to begin asset tapering and raise interest hikes a lot sooner than its developed market peers, too supported domestic currency. Meanwhile, global investors remained focus on Chinese property developer Evergrande and its pledge to pay back part of its mountain of debt. However, Foreign Institutional Investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 1,943.26 crore on Wednesday, exchange data showed.
The partially convertible currency is currently trading at 73.72, stronger by 15 paise from its previous close of 73.87 on Wednesday. The currency touched a high and low of 73.8500 and 73.6900 respectively.
