Indian rupee strengthened against US dollar on Wednesday on account of increased liquidation of the American currency by exporters and banks. Further, a higher stock opening and continued foreign inflows too supported domestic currency. However, the dollar's recovery against some currencies overseas restricted the rupee’s upmove. Forex and money markets were closed yesterday for 'Gudi Padwa'. On the global front, the dollar pulled away from 4-1/2-month lows against a currency basket on Wednesday after solid data backed expectations for more US interest rate hikes this year, while sterling was knocked by Britain triggering its exit from the European Union.
The partially convertible currency is currently trading at 64.95, stronger by 9 paise from its previous close of 65.04 on Monday. The currency touched a high and low of 65.07 and 64.9175 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 65.08 and for Euro stood at 70.67 on March 27, 2017. While the RBI’s reference rate for the Yen stood at 59.08, the reference rate for the Great Britain Pound (GBP) stood at 81.64. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| March 27, 2017 | 65.0892 | 81.6479 |
| March 24, 2017 | 65.4581 | 81.6721 |
(RBI-Reference Rate)
