The Indian rupee strengthened against the US dollar in early trade on Tuesday as crude oil prices eased on hopes of a fresh US-Iran ceasefire, despite fresh threats by Yemen's Houthi rebels to impose a naval blockade on Saudi Arabia. The rupee also strengthened after the Reserve Bank of India stated that its recent measures to strengthen the balance of payments had attracted more than $20 billion in capital inflows. Meanwhile, Foreign Institutional Investors offloaded equities worth Rs 1,121.04 crore on a net basis on Monday, exchange data showed.
The partially convertible currency is currently trading at 96.33, stronger by 3 paise from its previous close of 96.36 on Monday. The currency touched a high and low of 96.42 and 96.29 respectively.
