Indian rupee strengthened against the US dollar on Thursday as foreign institutional investors (FIIs) continued to buy in local equity markets. Rupee improved further after the US Federal Reserve kept key interest rates unchanged and selling of the American currency by banks and exporters. Also, the key domestic equity indices trading marginally higher following positive budgetary announcements with a focus on rural and infrastructure spending, too supported the rupee move. On the global front, the dollar slipped, edging back toward recent lows after the Federal Reserve disappointed investors hoping for a more hawkish policy stance, while the Australian dollar rallied after data showed that nation had booked a record trade surplus last month.
The partially convertible currency is currently trading at 67.42, stronger by 5 paise from its previous close of 67.47 on Wednesday. The currency touched a high and low of 67.4525 and 67.3875 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.64 and for Euro stood at 72.91 on February 01, 2017. While the RBI’s reference rate for the Yen stood at 59.69, the reference rate for the Great Britain Pound (GBP) stood at 84.94. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| February 01, 2017 | 67.6458 | 84.9496 |
| January 31, 2017 | 67.8125 | 84.8470 |
