Indian rupee strengthened against the US dollar on Tuesday on fresh selling of the American currency by exporters and banks. Further, dollar’s weakness against some currencies overseas and gains in the domestic equity market too supported the rupee. Meanwhile, traders are cautious ahead of the key gross domestic product (GDP) data, which will be released on 30 November. Traders are also cautious ahead of the US payroll data on Friday, Italian referendum scheduled for 4 December and mid-December US Federal Reserve policy. On the global front, the dollar clawed back some losses on Tuesday as Italian political woes weighed on the euro, though the greenback remained shy of recent highs after US Treasury yields stepped back from multi-month highs.
The partially convertible currency is currently trading at 68.67, stronger by 9 paise from its previous close of 68.76 on Monday. The currency touched a high and low of 68.76 and 68.60 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.72 and for Euro stood at 73.17 on November 28, 2016. While the RBI’s reference rate for the Yen stood at 61.32, the reference rate for the Great Britain Pound (GBP) stood at 85.84.The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| November 28, 2016 | 68.7235 | 85.8494 |
| November 25, 2016 | 68.4626 | 85.2222 |
