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Rupee strengthens against US dollar on Friday
Sep-30-2022
Indian rupee strengthened against the US dollar on Friday as the American currency retreated from a 20-year peak at overseas markets. Domestic unit also got some strength after the Reserve Bank of India (RBI) raised the benchmark lending rate by 50 basis points to 5.90 percent in a bid to check inflation, which has remained above its tolerance level for the past 8 months. Meanwhile, Foreign Institutional Investors (FIIs) were net sellers in the capital markets as they offloaded shares worth Rs 3,599.42 crore on Thursday, exchange data showed.

The partially convertible currency is currently trading at 81.54, stronger by 19 paise from its previous close of 81.73 on Thursday. The currency touched a high and low of 81.6950 and 81.45 respectively.

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