Indian rupee strengthened marginally against the US dollar
on 19th November tracking firm domestic equities and weakness in
American currency against major rivals overseas. Rupee sentiments improved
further with expectations that the US Federal Reserve to cut interest rates at
its December policy meeting. However, sustained foreign fund outflows and
rising crude oil prices have capped the rupee’s gain further. Foreign
Institutional Investors were net sellers in the capital markets on Monday, as
they offloaded shares worth Rs 1,403.40 crore, exchange data showed.
The partially convertible currency is currently trading at
84.40, stronger by 2 paise from its previous close of 84.42 on Monday. The
currency touched a high and low of 84.41 and 84.39 respectively.
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