Indian rupee strengthened marginally against dollar in early deals on Wednesday on increased selling of the US currency by exporters and banks amid firm domestic equity markets. Besides, weakness in the dollar against other currencies overseas also supported the rupee. On the global front, the dollar held on to its modest overnight gains in early Wednesday trade as traders look to any hints from the US Federal Reserve on the timing and the pace of its future rate hikes.
The partially convertible currency is currently trading at 63.90, little changed from its previous close of 63.91 on Tuesday. The currency touched a high and low of 63.94 and 63.85 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.02 and for Euro stood at 70.88 on July 28, 2015. While, the RBI’s reference rate for the Yen stood at 51.84, the reference rate for the Great Britain Pound (GBP) stood at 99.7156. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| July 28, 2015 | 64.0270 | 99.7156 |
| July 27, 2015 | 64.0028 | 99.4348 |
(RBI-Reference Rate)
