Indian rupee strengthened against US dollar on Monday on account of increased selling of the foreign currency by exporters and banks. However, the euro sinking to a 20-month low against the American currency after Italy Prime Minister Matteo Renzi resigned following a heavy referendum defeat, capped some gains. Meanwhile, investors are cautiously trading ahead of the Reserve Bank of India’s (RBI) bi-monthly policy on 7th December.
The partially convertible currency is currently trading at 68.17, stronger by 4 paise from its previous close of 68.21 on Friday. The currency touched a high and low of 68.2225 and 68.1250 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.36 and for Euro stood at 73.03 on December 2, 2016. While the RBI’s reference rate for the Yen stood at 59.96, the reference rate for the Great Britain Pound (GBP) stood at 86.28.The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| December 02, 2016 | 68.3689 | 86.2816 |
| December 01, 2016 | 68.3734 | 85.6992 |
