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Rupee strengthens on increased selling of US dollars by exporters
Nov-15-2018

Indian rupee strengthened against the US dollar on Thursday on account of increased selling of US dollars by exporters amid fresh foreign fund inflows. Besides, crude oil prices hovered near one-year lows and ease in worries over current account deficit and inflation too supported domestic currency. Furthermore, American currency's weakness against some currencies overseas and higher opening of the domestic equity market too influenced the rupee. On the global front, the dollar weakened against the pound and euro, which rose after Britain’s prime minister won cabinet approval for her draft Brexit plan, but gains were capped by concerns over whether that plan will win parliamentary approval.

The partially convertible currency is currently trading at 72.15, stronger by 16 paise from its previous close of 72.31 on Wednesday. The currency touched a high and low of 72.18 and 72.04 respectively. The reference rate for the dollar stood at 72.10 and for Euro stood at 81.43 on November 14, 2018. While the reference rate for the Yen stood at 63.31, the reference rate for the Great Britain Pound (GBP) stood at 93.69. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
November 14, 201872.103993.6961
November 13, 201872.585393.4908

(Reference Rate)

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