Indian rupee strengthened against US dollar on Friday on increased selling of the American currency by exporters and banks. Besides, the dollar's weakness against some currencies overseas on easing trade war concerns and a higher opening of the domestic equity market too supported the domestic currency. Meanwhile, forex markets were closed on Thursday on account of Muharram. On the global front, the dollar struggled near 2-1/2 month lows, while the yen also sagged on reduced safe haven demand amid a switch in investors’ view that the Sino-US trade conflict would not lead to an immediate global shock.
The partially convertible currency is currently trading at 71.81, stronger by 56 paise from its previous close of 72.37 on Wednesday. The currency touched a high and low of 72.9400 and 71.7700 respectively. The reference rate for the dollar stood at 72.67 and for Euro stood at 84.90 on September 19, 2018. While the reference rate for the Yen stood at 64.69, the reference rate for the Great Britain Pound (GBP) stood at 95.59. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| September 19, 2018 | 72.6781 | 95.5925 |
| September 18, 2018 | 72.3796 | 95.2897 |
(Reference Rate)
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