Indian rupee strengthened against US dollar in first half on Friday on fresh selling of the American currency by exporters and banks. Besides, higher opening in the domestic equity market and weakness in dollar against other currencies overseas too supported the domestic currency. Rupee improved further after the government denied the report stating that the government was discussing a possible devaluation of the rupee. On the global front, the dollar eased versus the yen on Friday, struggling to gain traction after lackluster US economic data further dampened already low expectations for a Federal Reserve interest rate hike next week.
The partially convertible currency is currently trading at 66.88, stronger by 14 paise from its previous close of 67.02 on Thursday. The currency touched a high and low of 66.89 and 66.84 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.02 and for Euro stood at 75.36 on September 15, 2016. While the RBI’s reference rate for the Yen stood at 65.58, the reference rate for the Great Britain Pound (GBP) stood at 88.71. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| September 15, 2016 | 67.0248 | 88.7073 |
| September 14, 2016 | 66.9642 | 88.4932 |
