Indian rupee strengthened marginally against the US dollar on Friday as domestic equity markets recovered from early losses, but spurt in month-end demand for the American currency from importers and dollar’s strength against other currencies overseas on increasing prospects of rate hike by the Federal Reserve by the end of this year capped some gains. On the global front, the dollar traded near a three-month high versus the yen, on track for monthly gains against most rivals as investors waited for US third quarter growth data later in the day.
The partially convertible currency is currently trading at 66.86, little changed from its previous close of 66.87 on Thursday. The currency touched a high and low of 66.89 and 66.8250 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.88 and for Euro stood at 72.93 on October 27, 2016. While the RBI’s reference rate for the Yen stood at 63.93, the reference rate for the Great Britain Pound (GBP) stood at 81.69. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| October 27, 2016 | 66.8854 | 81.6938 |
| October 26, 2016 | 66.7621 | 81.3630 |
