Indian rupee strengthened against the US dollar on Monday, driven by weakening of the American currency in overseas markets and easing crude prices. Besides, selling of the American currency by exporters and fresh foreign fund inflows too supported the rupee, though a weak domestic equity market restricted the uptrend. Foreign funds purchased shares worth Rs 689.28 crore from the capital markets on a net basis, while domestic institutional investors sold shares worth Rs 147.35 crore Friday, provisional data showed. On the global front, the dollar eased versus most of its peers on Monday as investors turned their attention to this week’s Federal Reserve policy meeting, with traders wagering policymakers will signal a pause in their tightening cycle.
The partially convertible currency is currently trading at 71.08, stronger by 9 paise from its previous close of 71.17 on Friday. The currency touched a high and low of 71.1125 and 70.9800 respectively. The reference rate for the dollar stood at 71.10 and for Euro stood at 80.49 on January 25, 2019. While the reference rate for the Yen stood at 64.74, the reference rate for the Great Britain Pound (GBP) stood at 93.23.
| Date | 1US$ | 1GBP |
| January 25, 2019 | 71.1051 | 93.2396 |
| January 24, 2019 | 71.2820 | 93.1456 |
(Reference Rate)
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