Indian rupee strengthened against the dollar on Thursday with fresh selling of the US currency by exporters amid foreign fund inflows and a higher opening in the domestic equities market. Besides, a weak dollar overseas also supported the rupee. Forex market remained closed yesterday on account of 'Buddha Purnima’. On the global front, the dollar edged lower after notching an eight week high against the yen on Thursday in Asian trade, while the New Zealand dollar tumbled after its central bank suggested a tightening was further out than markets had priced in.
The partially convertible currency is currently trading at 64.56, stronger by 6 paise from its previous close of 64.62 on Tuesday. The currency touched a high and low of 64.5750 and 64.4900 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.50 and for Euro stood at 70.46 on May 09, 2017. While the RBI’s reference rate for the Yen stood at 56.90, the reference rate for the Great Britain Pound (GBP) stood at 83.52. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| May 09, 2017 | 64.5065 | 83.5295 |
| May 08, 2017 | 64.2154 | 83.2553 |
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