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Rupee strengthens against US dollar on Monday

06 Mar 2023 Evaluate
Indian rupee strengthened against the US dollar on Monday tracking firm domestic equities and fresh foreign fund inflows. Foreign Institutional Investors (FIIs) were net buyers in the capital market on Friday as they purchased shares worth Rs 246.24 crore, exchange data showed. Further, weak crude oil prices and muted dollar index also supported rupee sentiments. Although, investors are cautiously awaiting US Federal Reserve Chair Jerome Powell's testimony this week.

The partially convertible currency is currently trading at 81.79, stronger by 18 paise from its previous close of 81.97 on Friday. The currency touched a high and low of 81.8850 and 81.7300 respectively.

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