Indian rupee strengthened against the US dollar on Thursday amid sustained selling of the greenback by exporters and banks. Besides, the greenback's weakness against some currencies overseas also aided the domestic currency. Furthermore, robust foreign fund inflows and easing crude prices also supported the rupee. On the global front, the dollar weakened against its peers after Federal Reserve Chairman Jerome Powell said US interest rates were just below neutral, taken by many investors as a tip that the rate hike cycle was nearing its end.
The partially convertible currency is currently trading at 69.97, stronger by 65 paise from its previous close of 70.62 on Wednesday. The currency touched a high and low of 70.1500 and 69.9300 respectively. The reference rate for the dollar stood at 70.68 and for Euro stood at 79.87 on November 28, 2018. While the reference rate for the Yen stood at 62.08, the reference rate for the Great Britain Pound (GBP) stood at 90.13. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| November 28, 2018 | 70.6881 | 90.1368 |
| November 27, 2018 | 70.9065 | 90.8369 |
(Reference Rate)
