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Rupee strengthens against US dollar on Thursday
Sep-29-2022
Indian rupee strengthened against the US dollar on Thursday, despite strong American currency at overseas markets and continuous foreign fund outflows. Although, investors are cautiously awaiting the RBI's monetary policy committee's decision on Friday, with expectations of a 50-basis points hike to check inflation. Foreign Institutional Investors (FIIs) were net sellers in the capital markets as they offloaded shares worth Rs 2,772.49 crore on Wednesday, exchange data showed. Fears of rising interest rates and a potential recession kept investors nervous.

The partially convertible currency is currently trading at 81.88, stronger by 5 paise from its previous close of 81.93 on Wednesday. The currency touched a high and low of 81.8850 and 81.58 respectively.

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