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Rupee strengthens on selling of American currency by exporters

03 Apr 2019 Evaluate

Indian rupee strengthened against US dollar on Wednesday, on account of selling of the American currency by exporters, sustained inflows by foreign institutional investors, and robust domestic equity market. Further, weakening of the American currency in overseas markets too supported the rupee. Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 543.36 crore on a net basis Tuesday, as per provisional data. On the global front, the yen slipped and the Australian dollar rose as concerns over the US-China tariff war receded further following a Financial Times report that the two sides have resolved most of the issues standing in the way of a trade deal.

The partially convertible currency is currently trading at 68.56, stronger by 18 paise from its previous close of 68.74 on Tuesday. The currency touched a high and low of 68.7200 and 68.5075 respectively. The reference rate for the dollar stood at 69.11 and for Euro stood at 77.44 on April 2, 2019. While the reference rate for the Yen stood at 62.09, the reference rate for the Great Britain Pound (GBP) stood at 90.21.

Date1US$1GBP
April 02, 201969.119890.2119
March 29, 201969.171390.4756

(Reference Rate)

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