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Rupee strengthens against US dollar on firm domestic equities
May-20-2022

Indian rupee strengthened against the US dollar on Friday tracking firm domestic equities, despite unabated foreign fund outflows in the capital market. Foreign Institutional Investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 4,899.92 crore on Thursday, exchange data showed. Further, fall in American currency at overseas markets due to rising recession fears also supported rupee sentiments.

The partially convertible currency is currently trading at 77.52, stronger by 4 paise from its previous close of 77.56 on Thursday. The currency touched a high and low of 77.5450 and 77.4950 respectively.

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