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Rupee strengthens against US dollar on Thursday
Dec-01-2022
Indian rupee strengthened against the US dollar on Thursday tracking weakness in US dollar after Federal Reserve Chairman Jerome Powell signalled a slower pace of interest rate hikes from December at the earliest. Foreign fund inflows and easing of covid restrictions in China also supported rupee sentiments. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Wednesday as they purchased shares worth Rs 9,010.41 crore, exchange data showed.

The partially convertible currency is currently trading at 81.16, stronger by 14 paise from its previous close of 81.30 on Wednesday. The currency touched a high and low of 81.18 and 80.9875 respectively.

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