Indian rupee recovered against the US dollar on Friday after it fell sharply in last session following India’s surgical strike on Pakistan based terrorist camps in the aftermath of Uri attack. Fresh selling of the American currency by exporters amid increased foreign fund inflows supported the rupee, but weak trading in the domestic equity market and the dollar's strength against some currencies overseas capped the gains. Market participants are anxiously waiting for newly-appointed Reserve Bank of India's Governor Urjit Patel's first Monetary Policy Review on October 4. On the global front, the safe haven Swiss franc held firm on Friday as concerns about the health of Deutsche Bank undermined risk sentiment, while the Japanese yen looked set for its third straight quarter of gains despite suffering a slight loss on the day.
The partially convertible currency is currently trading at 66.62, stronger by 23 paise from its previous close of 66.85 on Thursday. The currency touched a high and low of 66.8050 and 66.56 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.55 and for Euro stood at 74.68 on September 29, 2016. While the RBI’s reference rate for the Yen stood at 65.43, the reference rate for the Great Britain Pound (GBP) stood at 86.61. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| September 29, 2016 | 66.5521 | 86.6109 |
| September 28, 2016 | 66.4482 | 86.4823 |
