Indian rupee strengthened against US dollar on Friday as a slight weakness was seen in the American unit against some currencies including yen on fears that US President Donald Trump would take up trade issues with Japan. But, higher crude oil prices, sustained foreign fund outflows, widening current account deficit, and escalation in global trade war, capped rupee’s upward momentum.
The partially convertible currency is currently trading at 71.86, stronger by 12 paise from its previous close of 71.98 on Thursday. The currency touched a high and low of 72.0800 and 71.6925 respectively. The reference rate for the dollar stood at 71.78 and for Euro stood at 83.60 on September 6, 2018. While the RBI’s reference rate for the Yen stood at 64.56, the reference rate for the Great Britain Pound (GBP) stood at 92.80. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
