Indian rupee strengthened against US dollar on Wednesday following the weakening of the American currency against other currencies overseas. Though, rising crude oil prices and foreign fund outflows weighed on the rupee and restricted its rise. Foreign institutional investors (FIIs) remained net sellers in the capital market, pulling out Rs 2,016.20 Crore on Tuesday, according to provisional exchange data. On the global front, the dollar pulled back as weak US manufacturing stoked wagers on aggressive policy easing, while the British pound recouped losses in the wake of a parliamentary vote that opened the door for another Brexit delay.
The partially convertible currency is currently trading at 72.17, stronger by 22 paise from its previous close of 72.39 on Tuesday. The currency touched a high and low of 72.4200 and 72.1400 respectively. The reference rate for the dollar stood at 71.75 and for Euro stood at 79.23 on August 30, 2019. While the reference rate for the Yen stood at 67.49, the reference rate for the Great Britain Pound (GBP) stood at 87.42.
