Indian rupee strengthened against US dollar on Tuesday on account of firm domestic equities and foreign fund inflows supported the investor sentiment. Foreign institutional investors (FIIs) purchased shares worth Rs 728.13 crore on Monday, exchange data showed. Furthermore, domestic investors following global markets were enthused by positive developments on the US-China trade talk front and last week's general election win for Britain's Prime Minister Boris Johnson. However, strengthening of the American currency overseas and rising crude prices weighed on the rupee and restricted its gains. On the global front, Asian currencies were mixed as the euphoria caused by the so-called phase 1 trade deal between the US and China subsided and caution set in ahead of the signing of the agreement in January.
The partially convertible currency is currently trading at 70.98, stronger by 2 paise from its previous close of 71.00 on Monday. The currency touched a high and low of 71.02 and 70.96 respectively. The reference rate for the dollar stood at 70.71 and for Euro stood at 78.97 on December 13, 2019. While the reference rate for the Yen stood at 64.53, the reference rate for the Great Britain Pound (GBP) stood at 95.27.
