Indian rupee strengthened against dollar in early deals on Wednesday on selling of the American currency by exporters and banks. Further, gains in the local equity and Asian currencies markets too supported the rupee, but dollar’s strength against other currencies overseas capped the gains. Traders are cautious ahead of the US employment report which will be out on Friday, for clues as to whether the Federal Reserve will raise interest rates when it meets in December. On the global front, the dollar firmed on Wednesday in line with higher US Treasury yields, as a regional rally in equities whetted investors' appetite for risk.
The partially convertible currency is currently trading at 65.58, stronger by 8 paise from its previous close of 65.66 on Tuesday. The currency touched a high and low of 65.6250 and 65.5250 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 65.45 and for Euro stood at 72.10 on November 03, 2015. While, the RBI’s reference rate for the Yen stood at 54.24 the reference rate for the Great Britain Pound (GBP) stood at 100.964. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| November 03, 2015 | 65.4510 | 100.9647 |
| November 02, 2015 | 65.4793 | 101.0608 |
(RBI-Reference Rate)
