Indian rupee strengthened against the US dollar on Thursday on account of increased selling of the American currency by exporters and banks amid firm trade in domestic equity market. Further, the dollar’s weakness against some currencies overseas as the country’s new home sales data came out disappointing, supported the rupee. On the global front, the dollar slipped on Thursday and the euro edged higher, as immediate concerns about global trade tensions ebbed after the United States and the European Union agreed to begin talks to lower tariffs.
The partially convertible currency is currently trading at 68.69, stronger by 10 paise from its previous close of 68.79 on Wednesday. The currency touched a high and low of 68.8000 and 68.6200 respectively. The reference rate for the dollar stood at 68.80 and for Euro stood at 80.44 on July 25, 2018. While the RBI’s reference rate for the Yen stood at 61.88, the reference rate for the Great Britain Pound (GBP) stood at 90.58. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
