Indian rupee strengthened against the US dollar on Thursday amid firm trend in the domestic equities. However, strong American currency in the overseas market, unabated foreign fund outflows, ongoing uncertainties between Russia and Ukraine, and concerns about rising inflation capped further gains in rupee. Foreign institutional investors (FIIs) were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 3,009.26 crore, exchange data showed. On the global front, the US dollar edged up with expectations of aggressive action from the central bank to rein in inflation.
The partially convertible currency is currently trading at 76.23, stronger by 7paise from its previous close of 76.30 on Wednesday. The currency touched a high and low of 76.36 and 76.20 respectively.
