Indian rupee strengthened against the US dollar on Monday, despite muted domestic equities and foreign fund outflows from the capital market. Foreign Institutional Investors (FIIs) were net sellers in the capital market on Friday as they offloaded shares worth Rs 624.61 crore, exchange data showed. On the global front, the firmer US dollar was supported by strong US data, which stoked fears the US Federal Reserve will act more aggressively to curb inflation.
The partially convertible currency is currently trading at 82.68, stronger by 14 paise from its previous close of 82.82 on Friday. The currency touched a high and low of 82.7350 and 82.65 respectively.
