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Rupee strengthens against US dollar on Wednesday

09 Aug 2023 Evaluate
Indian rupee strengthened against the US dollar on Wednesday tracking weakness in American currency at overseas markets against key rivals. However, weak domestic equities, foreign fund outflows and rising crude oil prices limited further gains in the domestic currency. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Tuesday as they offloaded shares worth Rs 711.34 crore, exchange data showed. Meanwhile, investors are cautiously awaiting RBI's monetary policy decision and the US inflation data due later this week.

The partially convertible currency is currently trading at 82.82, stronger by 9 paise from its previous close of 82.91 on Tuesday. The currency touched a high and low of 82.8475 and 82.80 respectively.

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