Indian rupee strengthened against the US dollar on Tuesday as the US dollar held below recent highs ahead of central bank meetings this week. However, volatility in benchmark indices and sustained foreign fund outflows have capped rupees’ gains. Foreign Institutional Investors (FIIs) were net sellers in the capital market on Monday as they offloaded shares worth Rs 202.13 crore, while Domestic Institutional Investors (DIIs) net bought 116.01 crore worth of shares on Monday, as per exchange data showed.
The partially convertible currency is currently trading at 74.76, stronger by 11 paise from its previous close of 74.87 on Monday. The currency touched a high and low of 74.8650 and 74.7625 respectively.
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