Indian rupee strengthened against the US dollar on Friday as the American currency eased from its elevated levels. Moreover, foreign fund inflows also supported rupee sentiments. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Thursday as they purchased shares worth Rs 677.62 crore, exchange data showed. However, US Federal Reserve’s interest rates hikes still make investors cautious.
The partially convertible currency is currently trading at 82.54, stronger by 34 paise from its previous close of 82.88 on Thursday. The currency touched a high and low of 82.85 and 82.45 respectively.
