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Rupee strengthens against US dollar on Wednesday
Oct-20-2021

Indian rupee strengthened against the US dollar on Wednesday tracking weakness in American currency overseas. Further, lower crude oil prices after China's energy administration urged power grid firms to maximise the purchase of electricity from renewable projects to help ease power outages in China also supported domestic currency. Even as volatility in domestic equities following foreign fund outflows kept rupee sentiments cautious. Foreign Institutional Investors (FIIs) were net sellers as they offloaded shares worth Rs 505.79 crore, while Domestic Institutional Investors (DIIs) offloaded shares worth Rs 2,578.22 crore on a net basis in the Indian stock market on Tuesday, exchange data showed. The domestic currency market was closed on Tuesday for the Id-E-Milad holiday.

The partially convertible currency is currently trading at 75.10, stronger by 25 paise from its previous close of 75.35 on Monday. The currency touched a high and low of 75.1350 and 75.0400 respectively.


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