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Rupee strengthens against US dollar on Thursday
Dec-13-2018

Indian rupee strengthened against US dollar on Thursday after the new RBI governor Shaktikanta Das took charge and stressed on the need of a consultative approach to tackle pressing economic issues. Further, higher opening of domestic equity markets and weakening of the US dollar against some currencies overseas too boosted the domestic unit. However, significant foreign fund outflows and rising crude oil prices, capped the upmove. Foreign funds sold shares worth Rs 1,299.43 crore from the capital markets on a net basis Wednesday, while domestic institutional investors bought shares worth Rs 1,121.29 crore, provisional data showed. On the global front, the pound held onto most of the previous session’s gains after British Prime Minister Theresa May survived a no-confidence vote, buying time to try to steer her unpopular Brexit deal through a deeply divided parliament.

The partially convertible currency is currently trading at 71.52, stronger by 49 paise from its previous close of 72.01on Wednesday. The currency touched a high and low of 71.7100 and 71.5150 respectively. The reference rate for the dollar stood at 72.04 and for Euro stood at 81.59 on December 12, 2018. While the reference rate for the Yen stood at 63.50, the reference rate for the Great Britain Pound (GBP) stood at 90.03.

Date1US$1GBP
December 12, 201872.040790.0393
December 11, 201871.927490.4266

(Reference Rate) 

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