Rupee strengthens against US dollar on Thursday

Indian rupee strengthened against the US dollar on Thursday as the US dollar along with benchmark 10-year yields and crude prices came off multi-year highs. However, Foreign Institutional Investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 2,704.77 crore on Wednesday, exchange data showed. Meanwhile, investors are awaiting the US Federal Reserve's meeting due next week.

The partially convertible currency is currently trading at 74.35, stronger by 9 paise from its previous close of 74.44 on Wednesday. The currency touched a high and low of 74.4400 and 74.2975 respectively.

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