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Rupee strengthens against US dollar on Thursday
Jul-29-2021

Indian rupee strengthened against the US dollar on Thursday, supported by weakness in American currency overseas. The US Federal Reserve said on Wednesday in a new policy statement that the US economy is strengthening and making progress toward the Fed’s employment and inflation goals, a small step toward tapering down its bond-buying program. Further, firm trend in domestic equities too supported market sentiments. Although, Foreign Institutional Investors (FIIs) were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 2,274.77 crore, exchange data showed.

The partially convertible currency is currently trading at 74.28, stronger by 10 paise from its previous close of 74.38 on Wednesday. The currency touched a high and low of 74.3400 and 74.2275 respectively.

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