Indian rupee strengthened against the US dollar on Tuesday on account of fresh selling of the American currency by exporters. Further, the dollar weakened against other global currencies as China imposed extra tariffs on US products, escalating a dispute between two of the world’s biggest economies, and supporting the domestic unit here. Forex market remained shut on Monday due to annual accounts closing. The market also remained shut on Thursday and Friday for Mahavir Jayanti and Good Friday, respectively. On the global trend, the yen held firm on Tuesday as simmering US-China trade tensions stirred up fears for the global growth outlook, sapping investors’ risk appetite.
The partially convertible currency is currently trading at 65.07, stronger by 11 paise from its previous close of 65.18 on Wednesday. The currency touched a high and low of 65.1300 and 65.0550 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 65.04 and for Euro stood at 80.62 on March 28, 2018. While the RBI’s reference rate for the Yen stood at 61.54, the reference rate for the Great Britain Pound (GBP) stood at 92.28. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| March 28, 2018 | 65.0441 | 92.2846 |
| March 27, 2018 | 64.7973 | 92.2584 |
(RBI-Reference Rate)
