Indian rupee strengthened against the US dollar on Friday on increased selling of the American currency by banks and exporters. Sentiments got some support after data showed that India’s Wholesale Price Index (WPI) in the month of September 2016 has softened to 3.57 percent as compared to 3.74 percent in the previous month. The figure was better than street expectation of 4 percent. Also, the consumer prices index (CPI), eased in the month of September at 4.31% as compared to 5.05% in August, mainly on account of a sharp fall in food prices especially those of vegetables. On the global front, dollar bounced on Friday, erasing some losses from the previous day, as stronger-than-expected Chinese inflation data eased some concerns about the health of the world's second-biggest economy.
The partially convertible currency is currently trading at 66.78, stronger by 16 paise from its previous close of 66.94 on Thursday. The currency touched a high and low of 66.8925 and 66.7775 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.84 and for Euro stood at 73.66 on October 13, 2016. While the RBI’s reference rate for the Yen stood at 64.44, the reference rate for the Great Britain Pound (GBP) stood at 81.31.The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Date | 1US$ | 1GBP |
| October 13, 2016 | 66.8473 | 81.3131 |
| October 10, 2016 | 66.5856 | 82.4796 |
(RBI-Reference Rate)
