Indian rupee strengthened against the US dollar on Friday on account of selling in American currency by banks and exporters. Rupee advanced further by robust foreign inflows ahead of general elections. Meanwhile, the RBI plans to conduct the dollar-rupee buy-sell swap auctions on March 26, and the dollar amount mobilised through this auction would also reflect in RBI’s foreign exchange reserves for the tenor. The step is to curb the volatility and major appreciation of the currency. On the global front, the dollar was broadly weaker after US data on Thursday underscored growing pressure on the US economy and kept the dollar in check.
The partially convertible currency is currently trading at 69.22, stronger by 12 paise from its previous close of 69.34 on Thursday. The currency touched a high and low of 69.3400 and 69.1000 respectively. The reference rate for the dollar stood at 69.66 and for Euro stood at 78.84 on March 14, 2019. While the reference rate for the Yen stood at 62.43, the reference rate for the Great Britain Pound (GBP) stood at 92.28.
| Date | 1US$ | 1GBP |
| March 14, 2019 | 69.6657 | 92.2880 |
| March 13, 2019 | 69.6225 | 91.1535 |
(Reference Rate)
