Indian rupee strengthened against the US dollar on Wednesday tracking significant foreign fund inflows into capital market. Foreign Institutional Investors (FIIs) were net buyers in the capital market on Tuesday as they purchased shares worth Rs 1,942.19 crore, exchange data showed. Moreover, easing crude oil prices and firm American currency at overseas markets also supported rupee sentiments. Although, investors were cautiously awaiting inflation data from Indian and the United States which will provide cues on next interest rate hike moves.
The partially convertible currency is currently trading at 82.01, stronger by 5 paise from its previous close of 82.06 on Tuesday. The currency touched a high and low of 82.0775 and 81.96 respectively.
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