Indian rupee strengthened against the US dollar on Thursday, tracking foreign fund inflows into capital market. Foreign Institutional Investors (FIIs) were net buyers in the capital market on Wednesday as they purchased shares worth Rs 3,671.56 crore, exchange data showed. Meanwhile, US dollar weakness also supported rupee’s gains. However, US Fed Chair Jerome Powell’s reaffirmation of hawkish comments, limited further gains in domestic currency.
The partially convertible currency is currently trading at 81.88, stronger by 7 paise from its previous close of 81.95 on Wednesday. The currency touched a high and low of 81.9525 and 81.7725 respectively.
