Indian rupee showed modest strength against the US dollar on Thursday on bouts of dollar selling by banks and exporters. However, some gains were capped by weak growth data, showing gross domestic product grew at the slowest pace in the last six quarters at 7.1 percent in the April-June period of current fiscal. On the global front, the dollar wavered against the yen and euro on Thursday, its advance stalling ahead of a closely-watched US non-farm jobs report on Friday, which is expected to shape the market's near-term interest rate expectations.
The partially convertible currency is currently trading at 66.95, little changed from its previous close of 66.96 on Wednesday. The currency touched a high and low of 67.06 and 66.9350 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.98 and for Euro stood at 74.62 on August 31, 2016. While the RBI’s reference rate for the Yen stood at 64.89, 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 31, 2016 | 66.9813 | 87.6852 |
| August 30, 2016 | 67.0879 | 87.6906 |
