Indian rupee strengthened against the US dollar on Tuesday, tracking positive domestic equities despite lingering uncertainties around the new Omicron coronavirus variant. Moreover, weakness in American currency in the overseas market also supported rupee sentiments. Although, sustained foreign fund outflows limited the rupee’s gain. Foreign Institutional Investors (FIIs) remained net sellers in the capital markets, pulling out Rs 3,565.36 crore on Monday, exchange data showed. On the global front, the US dollar hovered below recent highs following a blow to Democratic spending plans in Washington, while worries about the Omicron variant of corona-virus kept risk currencies in check.
The partially convertible currency is currently trading at 75.61, stronger by 29 paise from its previous close of 75.90 on Monday. The currency touched a high and low of 75.7475 and 75.6050 respectively.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: