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Rupee strengthens against US dollar on Tuesday

07 Feb 2023 Evaluate
Indian rupee strengthened against the US dollar on Tuesday due to weak American currency at overseas markets. Investors are awaiting the RBI's monetary policy decision due on Wednesday, in which the central bank is expected to raise the repo rate by 25 basis points. However, foreign capital outflows from the capital market, capped further gains in rupee. Foreign Institutional Investors (FIIs) were net sellers in the capital market on Monday as they offloaded shares worth Rs 1,218.14 crore, exchange data showed.

The partially convertible currency is currently trading at 82.67, stronger by 9 paise from its previous close of 82.76 on Monday. The currency touched a high and low of 82.80 and 82.63 respectively.

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