The Indian rupee strengthened against the US dollar on Friday, as sustained foreign fund inflows into the Indian capital market. Foreign institutional investors bought equities worth Rs 11,111.25 crore on a net basis on Thursday, exchange data showed. However, some gains were limited by a flat American currency overseas and potential economic impact of growing global trade concerns after US President Donald Trump signed an order imposing a 25% tariff on auto imports.
The partially convertible currency is currently trading at 85.64, stronger by 10 paise from its previous close of 85.74 on Thursday. The currency touched a high and low of 85.7050 and 85.55 respectively.
