Indian rupee strengthened against the US dollar on Monday, driven by increased selling of American currency by banks and exporters amid persistent foreign fund inflows. Besides, weakness in the greenback against some currencies overseas and a higher opening of domestic equities too supported the rupee. Rupee improved further after crude oil prices dropped below $60 a barrel, easing worries over the current account deficit and inflation. The forex market was closed Friday on account of Gurunanak Jayanti. On the global front, the dollar rose versus its major peers, as investors sought shelter in safe haven currencies as fears of a global growth slowdown and US-Sino trade tensions sapped risk appetite.
The partially convertible currency is currently trading at 70.45, stronger by 24 paise from its previous close of 70.69 on Thursday. The currency touched a high and low of 70.4800 and 70.3050 respectively. The reference rate for the dollar stood at 71.17 and for Euro stood at 81.18 on November 22, 2018. While the reference rate for the Yen stood at 62.97, the reference rate for the Great Britain Pound (GBP) stood at 91.04. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| November 22, 2018 | 71.1787 | 91.0423 |
| November 20, 2018 | 71.3276 | 91.7197 |
(Reference Rate)
