Indian rupee strengthened against the US dollar on Wednesday on account of fresh selling of the American currency by banks and exporters. Further, firm domestic equity market also supported the rupee but the dollar’s strength against some currencies overseas, capped the rupee’s gain. On the global front, the dollar held firm on Wednesday, having rebounded from 6-1/2-month lows against its major peers helped by a rise in US Treasury yields, while the yuan eased after Moody's cut its sovereign rating on China due to concerns over the country's soaring debt.
The partially convertible currency is currently trading at 64.86, stronger by 3 paise from its previous close of 64.89 on Tuesday. The currency touched a high and low of 64.96 and 64.7975 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.77 and for Euro stood at 72.74 on May 23, 2017. While the RBI’s reference rate for the Yen stood at 58.37, the reference rate for the Great Britain Pound (GBP) stood at 84.03. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| May 23, 2017 | 64.7751 | 84.0327 |
| May 22, 2017 | 64.5632 | 83.9515 |
