Indian rupee strengthened against the US dollar on Tuesday on fresh selling of the American currency by exporters and banks amid a higher opening in the domestic stock market. Further, weakness in the dollar against other currencies overseas on an unexpected fall in a US manufacturing index too supported the rupee. On the global front, the dollar took a breather from its recent gains on Tuesday, edging away from seven-month highs against a currency basket, as investors took stock of US interest rate expectations in coming months.
The partially convertible currency is currently trading at 66.75, stronger by 14 paise from its previous close of 66.89 on Monday. The currency touched a high and low of 66.7950 and 66.7375 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.77 and for Euro stood at 73.36 on October 17, 2016. While the RBI’s reference rate for the Yen stood at 64.12, the reference rate for the Great Britain Pound (GBP) stood at 81.30.The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| October 17, 2016 | 66.7779 | 81.3088 |
| October 14, 2016 | 66.8481 | 81.4811 |
