Indian rupee strengthened against US dollar on Monday, supported by firm domestic equities in spite of ongoing foreign fund outflows from the capital markets. Foreign Institutional Investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 1,943.10 crore on Friday, exchange data showed. Moreover, fall in the American currency index also supported rupee sentiments. However, some strength in domestic currency were capped by surge in Crude oil ahead of a meeting of European Union members to discuss sanctions on Russia for its invasion of Ukraine.
The partially convertible currency is currently trading at 77.53, stronger by 5 paise from its previous close of 77.58 on Friday. The currency touched a high and low of 77.5375 and 77.46 respectively.
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