Rupee strengthens against US dollar in early trade on Monday
The partially convertible currency is currently trading at 90.38, stronger by 27 paise from its previous close of 90.65 on Friday
The Indian rupee strengthened against the US dollar in early trade on Monday, supported by firm domestic equities after India and the United States on Saturday announced they have reached a framework for an interim trade agreement. Moreover, rising forex reserves, foreign fund inflows and a softer US dollar index ahead of key employment and inflation data coming later this week, have also supported rupee sentiments. Foreign Institutional Investors purchased equities worth Rs 1,950.77 crore on Friday, exchange data showed. The Reserve Bank said India's forex reserves jumped by another $14.361 billion to a new all-time high of $723.774 billion during the week ended January 30.
The partially convertible currency is currently trading at 90.38, stronger by 27 paise from its previous close of 90.65 on Friday. The currency touched a high and low of 90.70 and 90.38 respectively.
