Rupee strengthens against US dollar in early trade on Wednesday
The partially convertible currency is currently trading at 90.93, stronger by 2 paise from its previous close of 90.95 on Tuesday
The Indian rupee strengthened against the US dollar in early trade on Wednesday, supported by a weaker American currency overseas despite US President Donald Trump delivering his annual State of the Union address to Congress, saying that he has overseen a turnaround for the ages and praising his economic achievements, focusing on lower inflation. Moreover, firm domestic equity markets also supported rupee sentiments. However, a sharp rise in global crude oil prices and foreign fund outflows have limited sharp gains in the domestic currency. Foreign institutional investors offloaded equities worth Rs 102.53 crore on Tuesday, exchange data showed.
The partially convertible currency is currently trading at 90.93, stronger by 2 paise from its previous close of 90.95 on Tuesday. The currency touched a high and low of 90.94 and 90.8875 respectively.
