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Rupee strengthens against US dollar on Tuesday

04 Oct 2022 Evaluate
Indian rupee strengthened against the US dollar on Tuesday on account of firm domestic equities and tracking weakness in the American currency at overseas markets. Moreover, Foreign Institutional Investors were net buyers in the capital market as they bought shares worth Rs 590.58 crore on Monday, exchange data showed. However, rising crude price in the international market ahead of OPEC+ meeting, and growing fears over monetary tightening have restricted the rupee gains.

The partially convertible currency is currently trading at 81.44, stronger by 38 paise from its previous close of 81.82 on Monday. The currency touched a high and low of 81.6675 and 81.3650 respectively.

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