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Indian rupee improved marginally against the US dollar on Monday after making negative start. Earlier, rupee was pressured by appreciation of the American currency overseas amid sustained foreign capital outflows. On the global front, the dollar edged up towards a seven-month high against a basket of its peers, as investors absorbed the escalation in trade tensions between the US and China. China responded to the US putting tariffs on $50 billion of imports by placing an additional 25% levy on $34 billion of US agricultural and auto exports starting July.
The partially convertible currency is currently trading at 67.98, stronger by 4 paise from its previous close of 68.02 on Friday. The currency touched a high and low of 68.1600 and 67.9450 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.97 and for Euro stood at 78.60 on June 15, 2018. While the RBI’s reference rate for the Yen stood at 61.34, the reference rate for the Great Britain Pound (GBP) stood at 89.99. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
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