Indian rupee appreciated against the US dollar on Tuesday, after a long weekend, in line with increased foreign fund inflows and dip in crude oil prices. A higher opening in the domestic equities also buoyed the rupee. Though, strength in the dollar against other currencies overseas trimmed gains for the rupee. On the global front, both the dollar and riskier Asian currencies held on to modest overnight gains amid optimism in trade deal between US and China and as market waited for direction from this week’s Federal Reserve meeting.
The partially convertible currency is currently trading at 70.70, stronger by 20 paise from its previous close of 70.90 on Friday. The currency touched a high and low of 70.7750 and 70.6875 respectively. The reference rate for the dollar stood at 70.93 and for Euro stood at 78.98 on October 24, 2019. While the reference rate for the Yen stood at 65.30, the reference rate for the Great Britain Pound (GBP) stood at 91.63.
