Indian rupee strengthened against the US dollar on Friday after crude prices fell to seven-month lows in the global market amid fresh foreign fund inflows. Further, dollar-selling by exporters and banks and the US dollar’s weakness against some currencies overseas, too supported domestic unit. Moreover, a higher opening in the domestic equity market also supported the rupee. On the global front, the safe haven yen slipped and the Australian dollar extended its rally on Friday as an apparent de-escalation in the US-China trade war gave market confidence a significant boost in Asian trade.
The partially convertible currency is currently trading at 72.85, stronger by 60 paise from its previous close of 73.45 on Thursday. The currency touched a high and low of 73.2100 and 72.7725 respectively. The reference rate for the dollar stood at 73.82 and for Euro stood at 83.72 on November 1, 2018. While the reference rate for the Yen stood at 65.40, the reference rate for the Great Britain Pound (GBP) stood at 94.81. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| November 01, 2018 | 73.8295 | 94.8182 |
| October 31, 2018 | 73.9936 | 94.1016 |
(Reference Rate)
