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Rupee strengthens against US dollar on Tuesday
Aug-03-2021

Indian rupee strengthened against the US dollar on Tuesday tracking firm domestic equities, while investors are awaiting the Reserve Bank of India's (RBI) policy decision and the US non-farm payrolls data on Friday for further cues. Moreover, weakness in American currency and dip in crude oil prices also supported rupee sentiments. However, sustained foreign fund outflows and concerns over rising Covid-19 infections in Asian countries capped further gains in domestic currency. Foreign Institutional Investors (FIIs) were net sellers as they offloaded shares worth Rs 1,539.88 crore in the capital market on Monday, exchange data showed.

The partially convertible currency is currently trading at 74.29, stronger by 5 paise from its previous close of 74.34 on Monday. The currency touched a high and low of 74.3600 and 74.2800 respectively.


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