Indian rupee strengthened against the US dollar on Thursday despite sustained outflows of foreign institutional investors from the capital market. Foreign Institutional Investors were net sellers in the capital market as they offloaded shares worth Rs 1,913.36 crore on Wednesday, exchange data showed. Moreover, easing crude oil prices after a jump in inventories in the world's largest oil consumer United States, also supported the rupee sentiments. Meanwhile, global markets are eyeing on policy meetings of the Bank of Japan and European Central Bank.
The partially convertible currency is currently trading at 74.82, stronger by 21 paise from its previous close of 75.03 on Wednesday. The currency touched a high and low of 74.9350 and 74.80 respectively.
