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Rupee strengthens against US dollar on Friday
Dec-02-2022
Indian rupee strengthened against the US dollar on Friday, supported by muted dollar at overseas market. Although, weakness in domestic equities and foreign fund outflows restricted rupee’s gains. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Thursday as they offloaded shares worth Rs 1,565.93 crore, exchange data showed. Meanwhile, investors are awaiting nonfarm payrolls data due later in the day for clues on how rate hikes have affected the labour market.

The partially convertible currency is currently trading at 81.17, stronger by 9 paise from its previous close of 81.26 on Thursday. The currency touched a high and low of 81.2150 and 81.0850 respectively.

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