Indian rupee strengthened against the US dollar on Friday, tracking positive sentiments in domestic equity markets even as Foreign Institutional Investors (FIIs) remained net sellers in the capital market with offloading shares worth Rs 6,266.75 crore on Thursday. However, geopolitical tensions and elevated crude oil prices capped the rupee's further recovery. On the global front, the US dollar was down in Asian trading but was headed towards its best week in seven months. While, the U dollar broke through key levels against the euro after investors increased bets on multiple US interest rate hikes in 2022.
The partially convertible currency is currently trading at 74.96, stronger by 13 paise from its previous close of 75.09 on Thursday. The currency touched a high and low of 75.1300 and 74.8800 respectively.
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