Indian rupee strengthened against the US dollar on Wednesday on increased selling of the greenback by exporters and softening crude oil prices. Furthermore, a higher opening of the domestic equity markets, too added support to domestic currency. Meanwhile, market participants are cautious ahead of the important meeting between the US and Chinese President. On the global front, the dollar held near two-week highs on Wednesday after a senior Federal Reserve official reaffirmed the need for further rate increases and as investors sought shelter in the currency thanks to simmering Sino-US trade tensions.
The partially convertible currency is currently trading at 70.64, stronger by 15 paise from its previous close of 70.79 on Tuesday. The currency touched a high and low of 70.8950 and 70.5950 respectively. The reference rate for the dollar stood at 70.90 and for Euro stood at 80.42 on November 27, 2018. While the reference rate for the Yen stood at 62.49, the reference rate for the Great Britain Pound (GBP) stood at 90.83. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| November 27, 2018 | 70.9065 | 90.8369 |
| November 26, 2018 | 70.7144 | 90.6478 |
(Reference Rate)
