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Rupee strengthens against US dollar on Tuesday
Jun-18-2019

Indian rupee strengthened against US dollar on Tuesday amid positive opening in domestic equities. Further, selling of the American currency by exporters and fall in crude oil prices supported the rupee. However, foreign fund outflows weighed on the domestic currency. Foreign funds pulled out Rs 331.21 crore from the capital markets on a net basis Monday, provisional data showed. Meanwhile, investors are waiting the outcome of the monetary policy of Federal Open Market Committee (FOMC), Bank of England and Bank of Japan, scheduled this week. On the global front, the British pound languished near this year’s low on rising worries Boris Johnson, the front-runner to replace UK Prime Minister Theresa May, could put Britain on a path towards a dreaded no-deal Brexit.

The partially convertible currency is currently trading at 69.80, stronger by 11 paise from its previous close of 69.91 on Monday. The currency touched a high and low of 69.84 and 69.77 respectively. The reference rate for the dollar stood at 69.56 and for Euro stood at 78.43 on June 14, 2019. While the reference rate for the Yen stood at 64.23, the reference rate for the Great Britain Pound (GBP) stood at 88.19.

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