Indian rupee was trading almost flat against the US dollar on Wednesday after greenbacks recovery against some currencies overseas. Earlier, the increased selling of the American currency by exporters and banks, a higher opening in the domestic stock market, and fresh foreign fund inflows kept the domestic unit in good spirits. On the global front, the dollar took a breather on Wednesday after falling to a seven-week low against the yen as investors await Federal Reserve Chair Janet Yellen's speech on monetary policy, while sterling gave back some of the previous session's rally.
The partially convertible currency is currently trading at 67.95, little changed from its previous close of 67.96 on Tuesday. The currency touched a high and low of 67.9825 and 67.8925 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.05 and for Euro stood at 72.50 on January 17, 2017. While the RBI’s reference rate for the Yen stood at 59.98, the reference rate for the Great Britain Pound (GBP) stood at 82.45. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| January 17, 2017 | 68.0509 | 82.4573 |
| January 16, 2017 | 68.1558 | 81.9982 |
