Indian rupee strengthened against the US dollar on Wednesday on account of fresh dollar selling by exporters and banks. Besides, weakness in the dollar against other currencies overseas too supported the rupee. Though, the currency was trading cautiously ahead of the Reserve Bank of India’s (RBI) monetary policy review due later in the day. On the global front, the euro nursed losses in Asian trading, pressured by political woes in Europe ahead of elections that checked its recent ascent against the dollar.
The partially convertible currency is currently trading at 67.33, stronger by 9 paise from its previous close of 67.42 on Tuesday. The currency touched a high and low of 67.37 and 67.31 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.36 and for Euro stood at 72.07 on February 07, 2017. While the RBI’s reference rate for the Yen stood at 60.26, the reference rate for the Great Britain Pound (GBP) stood at 83.94. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| February 07, 2017 | 67.3692 | 83.9488 |
| February 06, 2017 | 67.1958 | 83.9208 |
