Indian rupee strengthened against the US currency on Tuesday, owing to easing global crude oil prices and better-than-expected macro economic data on the domestic front. Retail inflation fell to a one-year low of 3.31% in October on the back of cheaper kitchen staples, fruits and protein-rich items. Industrial production grew at the slowest pace in four months at 4.5% in September, compared with a 4.1% growth in the same month last year. Besides, fund inflows by foreign investors and the US dollar’s weakness against some currencies overseas also supported the domestic unit.
The partially convertible currency is currently trading at 72.59, stronger by 30 paise from its previous close of 72.89 on Monday. The currency touched a high and low of 72.8200 and 72.5150 respectively. The reference rate for the dollar stood at 72.90 and for Euro stood at 82.43 on November 12, 2018. While the reference rate for the Yen stood at 63.91, the reference rate for the Great Britain Pound (GBP) stood at 93.99. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| November 12, 2018 | 72.9078 | 93.9947 |
| November 09, 2018 | 72.7347 | 94.8737 |
(Reference Rate)
