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Rupee strengthens against US dollar on Friday

21 Apr 2023 Evaluate
Indian rupee strengthened against the US dollar on Friday, tracking downward movement in crude oil prices globally. However, weakness in domestic equities and foreign fund outflows following expectations of further interest rate hikes by the US Federal Reserve and other central banks, capped further strength in domestic currency. Foreign Institutional Investors (FIIs) were net sellers in the capital market on Thursday as they offloaded shares worth Rs 1,169.32 crore, exchange data showed.

The partially convertible currency is currently trading at 82.15, stronger by 2 paise from its previous close of 82.17 on Thursday. The currency touched a high and low of 82.1725 and 82.11 respectively.

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