Indian rupee strengthened against the US dollar on Friday as American currency weakened overseas after the Federal Reserve surprised markets by bringing its three-year tightening drive to an earlier than expected end. The Fed on Wednesday left interest rates unchanged, but cut its outlook for US economic growth over the next year due to concerns about a slowing economy, even amid a strong labour market. The central bank also indicated that it would end its policy of balance sheet reduction in the latter half of the year. Rupee improved further amid sustained buying by foreign investors in domestic equity markets and lower crude prices. Meanwhile, domestic equity, forex, debt and commodity markets were closed on Thursday on account of Holi festival.
The partially convertible currency is currently trading at 68.61, stronger by 22 paise from its previous close of 68.83 on Wednesday. The currency touched a high and low of 68.7000 and 68.5300 respectively. The reference rate for the dollar stood at 68.86 and for Euro stood at 78.14 on March 20, 2019. While the reference rate for the Yen stood at 61.72, the reference rate for the Great Britain Pound (GBP) stood at 91.28.
| Date | 1US$ | 1GBP |
| March 20, 2019 | 68.8604 | 91.2846 |
| March 19, 2019 | 68.5847 | 91.0069 |
(Reference Rate)
