Indian rupee strengthened against the US dollar on Tuesday, despite sustained foreign fund outflows and rise in crude oil prices. Foreign investors remained net sellers in the capital markets, offloading shares worth Rs 1,056.01 crore Monday, provisional exchange data showed. While, weak cues from global markets amid uncertainties around US-China trade tariff deal, capped the rupee's upward movement. China on Monday announced it would impose higher tariffs on $60 billion of US goods following Washington’s decision last week to hike its own levies on $200 billion in Chinese imports.
The partially convertible currency is currently trading at 70.43, stronger by 8 paise from its previous close of 70.51 on Monday. The currency touched a high and low of 70.4875 and 70.3950 respectively. The reference rate for the dollar stood at 69.92 and for Euro stood at 78.48 on May 10, 2019. While the reference rate for the Yen stood at 63.72, the reference rate for the Great Britain Pound (GBP) stood at 90.92.
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