HOME > MARKETS > DEBT MARKET
  DEBT MARKET
MONEY MARKETS
Rupee strengthens on weakening of American currency overseas
Nov-18-2019

Indian rupee strengthened against the US dollar on Monday, tracking weakness in the American currency against other currencies overseas. Besides, firm domestic equities too supported the domestic currency. However, foreign fund outflows and rising crude prices weighed on the local unit and restricted its gains. Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 1,008.37 crore on Friday, exchange data showed. On the global front, major currencies were off to a cautious start on Monday as market players looked to whether Washington and Beijing can soon sign off on a deal to end their trade war that has been a drag on the global economic growth.

The partially convertible currency is currently trading at 71.68, stronger by 10 paise from its previous close of 71.78 on Friday. The currency touched a high and low of 71.7100 and 71.5900 respectively. The reference rate for the dollar stood at 71.71 and for Euro stood at 79.04 on November 15, 2019. While the reference rate for the Yen stood at 66.04, the reference rate for the Great Britain Pound (GBP) stood at 92.36.

  RELATED NEWS >>