Rupee strengthens against US dollar on Thursday
The partially convertible currency is currently trading at 85.59, stronger by 3 paise from its previous close of 85.62 on Wednesday
The Indian rupee strengthened against the US dollar on Thursday tracking firm domestic equities as investors awaited signs of progress on the US-India trade deal. Moreover, weakness in crude oil prices and fed rate cut hopes have also supported rupee sentiments. However, foreign fund outflows and persistent demand for dollars by the central bank have limited further gains for the rupee. Foreign institutional investors offloaded equities worth Rs 1,561.62 crore on a net basis on Wednesday, exchange data showed.
The partially convertible currency is currently trading at 85.59, stronger by 3 paise from its previous close of 85.62 on Wednesday. The currency touched a high and low of 85.70 and 85.56 respectively.
