Indian rupee strengthened against the dollar in morning trade on Wednesday on strong domestic equity market, but investors remained cautious ahead of the key gross domestic product (GDP) data for the June quarter and fiscal deficit data for July due later in the day. On the global front, the dollar hovered near a three-week high against a basket of currencies on Wednesday after upbeat US data enhanced expectations of a near-term rate hike by the Federal Reserve.
The partially convertible currency is currently trading at 66.98, stronger by 5 paise from its previous close of 67.03 on Tuesday. The currency touched a high and low of 67.08 and 66.9775 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.09 and for Euro stood at 74.94 on August 30, 2016. While the RBI’s reference rate for the Yen stood at 65.61, the reference rate for the Great Britain Pound (GBP) stood at 87.69.The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| August 30, 2016 | 67.0879 | 87.6906 |
| August 29, 2016 | 67.1810 | 88.0138 |
