Indian rupee was trading marginally lower against the US dollar on Wednesday as traders are awaiting indication for next year’s interest rate path after two-day Federal Open Market Committee meeting concludes on Wednesday. However, a higher opening in the domestic equity market amid positive economic data as retail inflation fell to a two-year low of 3.63 per cent in November after the Centre’s demonetisation drive dented consumer spending on various food items, including vegetables capped some losses in rupee. On the global front, the dollar took a breather on Wednesday as investors waited to see if the US Federal Reserve will signal any acceleration in the pace of future rate increases to deal with an expected ramp-up in fiscal spending under President-elect Donald Trump.
The partially convertible currency is currently trading at 67.57, weaker by 3 paise from its previous close of 67.54 on Tuesday. The currency touched a high and low of 67.5850 and 67.4425 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.48 and for Euro stood at 71.76 on December 13, 2016. While the RBI’s reference rate for the Yen stood at 58.54, the reference rate for the Great Britain Pound (GBP) stood at 85.54.The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| December 13, 2016 | 67.4867 | 85.5461 |
| December 09, 2016 | 67.5840 | 85.1289 |
