Indian rupee strengthened against dollar on Tuesday on account of fresh selling of the American currency by exporters and banks. Besides, the dollar’s weakness against other currencies overseas also supported the domestic currency. Furthermore, fall in crude prices also helped the rupee to recover from initial losses. On the global front, the dollar was slightly higher on Tuesday and China’s yuan fell as global markets braced for Beijing’s response to new US tariffs on Chinese goods.
The partially convertible currency is currently trading at 72.38, stronger by 11 paise from its previous close of 72.49 on Monday. The currency touched a high and low of 72.65 and 72.38 respectively. The reference rate for the dollar stood at 72.55 and for Euro stood at 84.39 on September 17, 2018. While the reference rate for the Yen stood at 64.78, the reference rate for the Great Britain Pound (GBP) stood at 94.94. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| September 17, 2018 | 72.5505 | 94.9405 |
| September 14, 2018 | 71.8129 | 94.1553 |
(Reference Rate)
