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Rupee strengthens on sustained selling of US currency by exporters, banks
Feb-11-2019

Indian rupee strengthened against the US dollar on Monday, supported by sustained selling of the US currency by exporters and banks. Further, foreign capital inflows in the domestic equity markets supported the rupee, but weak domestic equity market capped the strength in rupee. According to provisional exchange data, foreign portfolio investors (FPIs) bought shares worth a net Rs 843.73 crore on net basis on Friday. On the global front, the dollar stayed near a six-week high against a basket of currencies as fresh worries over US-Sino trade tensions and global growth pushed investors toward the safety of the greenback.

The partially convertible currency is currently trading at 71.22, stronger by 9 paise from its previous close of 71.31 on Friday. The currency touched a high and low of 71.2875 and 71.1600 respectively. The reference rate for the dollar stood at 71.29 and for Euro stood at 80.83 on February 08, 2019. While the reference rate for the Yen stood at 64.98, the reference rate for the Great Britain Pound (GBP) stood at 92.29.

Date1US$1GBP
February 8, 201971.294992.2936
February 7, 201971.468892.4478

(Reference Rate)

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