Indian rupee strengthened against the US dollar on Thursday on account of fresh selling of the American currency by banks and exporters. Besides, dollar's weakness against other currencies overseas too supported the rupee. However, a weak domestic equity market and weak macroeconomic data with retail inflation jumping to a 5-month high of 3.81 percent in March and industrial output contracting by 1.2 percent in February capped the rupee’s gain. On the global front, the dollar slumped broadly on Thursday, falling to a five-month low against the yen, after US President Donald Trump helped accelerate its recent decline by saying the currency was too strong.
The partially convertible currency is currently trading at 64.30, stronger by 37 paise from its previous close of 64.67 on Wednesday. The currency touched a high and low of 64.44 and 64.26 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.69 and for Euro stood at 68.67 on April 12, 2017. While the RBI’s reference rate for the Yen stood at 59.06, the reference rate for the Great Britain Pound (GBP) stood at 80.81. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| April 12, 2017 | 64.6920 | 80.8132 |
| April 11, 2017 | 64.5438 | 80.1376 |
