Indian rupee strengthened against the US dollar on Wednesday tracking firm domestic equities, despite data that showed India's GDP growth slowed to a three-quarter low of 4.4% in October-December this fiscal year. Moreover, a weak dollar in the overseas market also supported rupee. However, sustained foreign fund outflows from the capital markets limited further gains in rupee. Foreign Institutional Investors (FIIs) were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 4,559.21 crore, exchange data showed.
The partially convertible currency is currently trading at 82.52, stronger by 6 paise from its previous close of 82.58 on Tuesday. The currency touched a high and low of 82.56 and 82.37 respectively.
