Indian rupee strengthened against the US dollar on Monday as the dollar weakened globally coupled with foreign fund inflows. Besides, increased selling of the American currency by exporters and banks amid a higher opening in the domestic equity market boosted the domestic currency. On the global front, the dollar slumped against the yen and other major peers on Monday after US President Donald Trump expressed discomfort with the greenback's strength and global finance leaders ended a weekend meeting with little consensus on how to resolve multiple disputes over US tariff actions.
The partially convertible currency is currently trading at 68.74, stronger by 9 paise from its previous close of 68.83 on Friday. The currency touched a high and low of 68.7475 and 68.6500 respectively. The currency touched a high and low of 69.12 and 68.82 respectively. The reference rate for the dollar stood at 68.84 and for Euro stood at 80.31 on July 20, 2018. While the RBI’s reference rate for the Yen stood at 61.27, the reference rate for the Great Britain Pound (GBP) stood at 89.66. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
