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Rupee strengthens against US dollar on Monday

10 Apr 2023 Evaluate
Indian rupee strengthened against the US dollar on Monday tracking foreign fund inflows into Indian capital market. Foreign Institutional Investors (FIIs) were net buyers in the capital market on Thursday as they purchased shares worth Rs 475.81 crore, exchange data showed. Moreover, firm domestic equities and the Reserve Bank of India's (RBI's) surprise decision to keep the key benchmark policy rate at 6.5% also supporting rupee sentiments. Forex market was closed on Friday on account of Good Friday.

The partially convertible currency is currently trading at 81.90, stronger by 12 paise from its previous close of 82.02 on Thursday. The currency touched a high and low of 81.9450 and 81.7800 respectively.

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