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Rupee strengthens against US dollar on Monday
Dec-17-2018

Indian rupee strengthened against US dollar on Monday on the back of increased selling of American currency by exporters and banks. Besides, a higher opening of domestic equities also fuelled the uptrend. On the global front, the dollar held near a 19-month high on Monday, bolstered by safe-haven buying as heightened concerns of a global economic slowdown reduced appetites for riskier assets such as stocks and Asian currencies. Investors eye a rate hike in the US at the end of the Federal Reserve’s December 18-19 policy meeting.

The partially convertible currency is currently trading at 71.74, stronger by 16 paise from its previous close of 71.90 on Friday. The currency touched a high and low of 71.8600 and 71.7000 respectively. The reference rate for the dollar stood at 71.73 and for Euro stood at 81.46 on December 14, 2018. While the reference rate for the Yen stood at 63.20, the reference rate for the Great Britain Pound (GBP) stood at 90.58.

Date1US$1GBP
December 14, 201871.7359 90.5809
December 13, 201871.536890.3095

  (Reference Rate)

 

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