Rupee strengthens against US dollar on Wednesday
Indian rupee strengthened against the US dollar on Wednesday tracking firm domestic equities amid foreign fund inflows and softening crude oil prices, while easing inflationary pressures also boosted rupee sentiments. Foreign Institutional Investors (FIIs) remained net buyers in the capital market on Tuesday as they purchased shares worth Rs 1,376.84 crore, exchange data showed. The wholesale price inflation eased to a five-month low of 13.93% in July. Forex markets have been closed over the last two days on account of Independence Day and Parsi New Year. On the global front, the US dollar remained subdued ahead of the release of minutes from the Federal Reserve's previous policy meeting that could offer clues on further interest rate hikes.

The partially convertible currency is currently trading at 79.33, stronger by 41 paise from its previous close of 79.74 on Friday. The currency touched a high and low of 79.3625 and 79.2675 respectively.