Indian rupee strengthened against the US dollar on Tuesday tracking a firm trend in domestic equities, while foreign fund inflows into capital market, record GST collection in April and crude oil prices below $80 a barrel also lifted rupee sentiments. Foreign Institutional Investors (FIIs) were net buyers in the capital market on Friday as they bought shares worth Rs 3,304.32 crore, exchange data showed. The finance ministry data showed that the GST collection in April rose by 12% annually to over Rs 1.87 lakh crore, touching an all-time monthly high. Weakness in American currency also supported domestic currency. Although, investors are cautiously awaiting the Federal Open Market Committee outcome on May 3. Forex and equity markets were closed on Monday on account of 'Maharashtra Day'.
The partially convertible currency is currently trading at 81.77, stronger by 5 paise from its previous close of 81.82 on Friday. The currency touched a high and low of 81.79 and 81.7250 respectively.
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