Indian rupee strengthened against US dollar on Tuesday, after it crashed to all-time low of 70.09 on concerns about Turkey's economic woes persisted. Earlier, lack of FII inflows and growing oil prices took rupee to its all-time low. On the global front, the euro stood near a one-year low against the dollar and the Swiss franc, remaining under pressure as the Turkish lira wobbled on worries that Turkey’s economic woes could hit European banks and spread to other emerging economies.
The partially convertible currency is currently trading at 69.80, stronger by 11 paisa from its previous close of 69.91 on Monday. The currency touched a high and low of 70.0900 and 69.6800 respectively. The reference rate for the dollar stood at 69.46 and for Euro stood at 79.18 on August 13, 2018. While the RBI’s reference rate for the Yen stood at 62.97, the reference rate for the Great Britain Pound (GBP) stood at 88.62. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
