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Rupee strengthens on sustained inflows by foreign institutional investors

07 Mar 2019 Evaluate

Indian rupee strengthened against US dollar on Thursday, followed by softening crude oil prices and sustained inflows by foreign institutional investors. Foreign investors (FIIs) remained net buyers in the capital markets, putting in Rs 1,130.78 crore on a net basis Wednesday, as per provisional data. Further, selling of the American currency by exporters too supported the domestic unit. On the global front, major currencies mostly stuck to tight ranges as traders focused their attention on the European Central Bank’s (ECB) policy review later in the day, while the Australian and Canadian dollars struggled near two-month lows.

The partially convertible currency is currently trading at 70.08, stronger by 20 paise from its previous close of 70.28 on Wednesday. The currency touched a high and low of 70.1150 and 69.9475 respectively. The reference rate for the dollar stood at 70.57 and for Euro stood at 79.76 on March 6, 2019. While the reference rate for the Yen stood at 63.13, the reference rate for the Great Britain Pound (GBP) stood at 92.71.

Date1US$1GBP
March 06, 201970.579892.7197
March 05, 201970.760193.1179

(Reference Rate)

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