Indian rupee strengthened against the US dollar on Tuesday due to weakening of the American currency against major currencies overseas. Further, easing crude oil prices, foreign fund inflows and selling of the American currency by exporters too supported the rupee. Foreign investors bought shares worth Rs 207.33 crore on a net basis on Monday, provisional data showed. Traders also await a planned meeting between US President Donald Trump and his Chinese counterpart XI Jinping at the crucial G-20 summit later this week. On the global front, the dollar hit a multi-month low against the euro and the yen on the prospects of monetary easing by the Federal Reserve, while the safe-haven Swiss franc and gold rose on Middle East tensions.
The partially convertible currency is currently trading at 69.29, stronger by 6 paise from its previous close of 69.35 on Monday. The currency touched a high and low of 69.3200 and 69.2200 respectively. The reference rate for the dollar stood at 69.63 and for Euro stood at 78.58 on June 21, 2019. While the reference rate for the Yen stood at 64.90, the reference rate for the Great Britain Pound (GBP) stood at 88.36.
