Indian rupee strengthened against the US dollar on Thursday as the American currency weakened at overseas markets, despite US Federal Reserve Chair Jerome Powell's hawkish comments on further interest rate hikes. Moreover, robust inflow of foreign funds into capital markets and easing of crude prices also boosted rupee sentiments. Foreign institutional investors (FIIs) were net buyers in the capital markets as they bought shares worth Rs 4,013.10 crore, while Domestic Institutional Investors (DIIs) net purchased shares to the tune of Rs 550.36 crore on Wednesday, exchange data showed.
The partially convertible currency is currently trading at 81.92, stronger by 9 paise from its previous close of 82.01 on Wednesday. The currency touched a high and low of 81.9550 and 81.90 respectively.
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