Indian rupee strengthened against the US dollar on Thursday due to sustained selling of the American currency by exporters and banks. Besides, a higher opening in the domestic equity market supported the rupee. Rupee improved further after foreign investors continued to buy in local equity and debt markets. However, the dollar’s strength against other currencies overseas, capped the gains. On the global front, the dollar managed to stabilize on Thursday after the previous session's slide, although lingering risk aversion pinned Treasury yields near multi-week lows and restrained the greenback's bounce.
The partially convertible currency is currently trading at 67.02, stronger by 16 paise from its previous close of 67.18 on Wednesday. The currency touched a high and low of 67.07 and 66.95 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.30 and for Euro stood at 71.87 on February 08, 2017. While the RBI’s reference rate for the Yen stood at 59.94, the reference rate for the Great Britain Pound (GBP) stood at 84.16.The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| February 08, 2017 | 67.3058 | 84.1659 |
| February 07, 2017 | 67.3692 | 83.9488 |
(RBI-Reference Rate)
