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Rupee strengthens against US dollar on Friday

26 Aug 2022 Evaluate
Indian rupee strengthened marginally against the US dollar on Friday, tracking firm trend at domestic equities on the back of fund inflows by foreign institutional investors. Foreign institutional investors remained net buyers in the capital markets, as they purchased shares worth Rs 369.06 crore on Thursday, exchange data showed. Although, investors are cautiously awaiting US Federal Reserve Chairman Jerome Powell's speech later today for further clues about the pace of the US Fed's interest rate hikes. Higher oil prices capped gain in rupee against US dollar. 

The partially convertible currency is currently trading at 79.90, stronger by 2 paise from its previous close of 79.92 on Thursday. The currency touched a high and low of 79.92 and 79.84 respectively.

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