Indian rupee strengthened against the US dollar on Tuesday on increased selling of American currency by exporters and banks. Further, infrastructure sector recording a growth rate of 5 percent in September, the highest in three months, too made the rupee stronger. On the global front, the dollar edged higher on Tuesday as the final days of the contentious US presidential campaign overshadowed other major market events, as investors weighed the latest concerns about an FBI investigation into Hillary Clinton's use of a private email server. Forex market remained closed on Monday on account of ‘Diwali Balipratipada'.
The partially convertible currency is currently trading at 66.72, stronger by 5 paise from its previous close of 66.77 on Friday. The currency touched a high and low of 66.7275 and 66.6750 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.85 and for Euro stood at 72.90 on October 28, 2016. While the RBI’s reference rate for the Yen stood at 63.44, the reference rate for the Great Britain Pound (GBP) stood at 81.29.The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| October 28, 2016 | 66.8566 | 81.2976 |
| October 27, 2016 | 66.8854 | 81.6938 |
(RBI-Reference Rate)
