Indian rupee strengthened against the US dollar on Thursday on account of fresh selling of American currency by banks and exporters. Further, weakness in the dollar against other currencies overseas on disappointing US economic data, showing wholesale inflation and industrial production flat in October, also supported the rupee. On the global front, the dollar caught its breath on Thursday, after charging to a 13-1/2 year high against a basket of currencies on bets the Trump administration will adopt inflationary policies, while the yen sagged after a Bank of Japan bond-buying operation.
The partially convertible currency is currently trading at 67.90, stronger by 4 paise from its previous close of 67.94 on Wednesday. The currency touched a high and low of 67.9350 and 67.8600 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.77 and for Euro stood at 72.84 on November 16, 2016. While the RBI’s reference rate for the Yen stood at 62.12, the reference rate for the Great Britain Pound (GBP) stood at 84.61.The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| November 16, 2016 | 67.7791 | 84.6154 |
| November 15, 2016 | 67.7173 | 84.4232 |
