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Rupee strengthens on increased selling of American currency by exporters and banks

10 Nov 2016 Evaluate

Indian rupee strengthened against the US dollar on Thursday on increased selling of the American currency by exporters and banks. Besides, weakness in the dollar against some other currencies overseas also supported the rupee. Further, a higher opening in the domestic equity market following robust global cues also supported domestic unit. On the global front, the dollar eased on Thursday as traders sought some stability after 24 hours of high drama in global markets that saw a massive selloff in risk assets and an equally dramatic turnaround on Republican Donald Trump's shock US presidential win.

The partially convertible currency is currently trading at 66.40, stronger by 3 paise from its previous close of 66.43 on Wednesday. The currency touched a high and low of 66.4400 and 66.3375 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.79 and for Euro stood at 74.97 on November 09, 2016. While the RBI’s reference rate for the Yen stood at 65.05, the reference rate for the Great Britain Pound (GBP) stood at 83.42.The reference rates are based on 12 noon rates of a few select banks in Mumbai.


Date 1US$ 1GBP
November 09, 201666.796883.4292
November 08, 201666.707382.7104

(RBI-Reference Rate)

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