Indian rupee strengthened against the US dollar on Monday amid foreign fund inflows into the capital market, while weakness in American currency against its major rivals overseas has also lent some support to the rupee. Foreign Institutional Investors (FIIs) were net buyers in the capital market as they purchased shares worth Rs 442.49 crore on Friday, exchange data showed. However, a rise in oil prices to 3-year highs kept the rupee sentiments bearish and capped its further gains.
The partially convertible currency is currently trading at 73.64, stronger by 4 paise from its previous close of 73.68 on Friday. The currency touched a high and low of 73.7450 and 73.6275 respectively.
