Indian rupee strengthened against US dollar on Tuesday despite recovery of crude oil prices along with firming global shares. However, some gains were capped as the investors awaited the outcome of monetary policy meeting by Reserve Bank of India (RBI) later this week. On the global front, the dollar traded higher against major currencies prior to release of data by United States showing estimates of return in growth of US manufacturing sector that would diminish the impact of ongoing US-China trade conflicts.
The partially convertible currency is currently trading at 70.77, stronger by 10 paise from its previous close of 70.87 on Monday. The currency touched a high and low of 70.8200 and 70.7500 respectively. The reference rate for the dollar stood at 70.83 and for Euro stood at 77.32 on September 27, 2019. While the reference rate for the Yen stood at 65.71, the reference rate for the Great Britain Pound (GBP) stood at 87.32.
