Indian rupee strengthened against the US dollar on Thursday on account of some selling in American currency by banks and exporters. However, foreign fund outflows and cautious opening in domestic equities weighed on the domestic currency and restricted its rise. Foreign investors sold shares worth Rs 16.97 crore on a net basis Wednesday, provisional data showed. On the global front, the dollar slipped as risk aversion in the broader markets pushed benchmark US yields to a nine-day low.
The partially convertible currency is currently trading at 68.81, stronger by 1 paise from its previous close of 68.82 on Wednesday. The currency touched a high and low of 68.8250 and 68.7300 respectively. The reference rate for the dollar stood at 68.56 and for Euro stood at 77.18 on July 16, 2019. While the reference rate for the Yen stood at 63.45, the reference rate for the Great Britain Pound (GBP) stood at 85.76.
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