Indian rupee strengthened against the dollar on Monday on account of sustained selling of the US currency by exporters and banks. However, strengthening of dollar against currencies like euro and yen and a weak domestic equity market capped the rupee’s gains. On the global front, the dollar edged up on Monday, but remained not far from the seven-month low it plumbed against a currency basket, after disappointing US employment data prompted investors to pare back expectations of US Federal Reserve rate hikes.
The partially convertible currency is currently trading at 64.36, stronger by 7 paise from its previous close of 64.43 on Friday. The currency touched a high and low of 64.3700 and 64.3125 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.42 and for Euro stood at 72.26 on June 02, 2017. While the RBI’s reference rate for the Yen stood at 57.72, the reference rate for the Great Britain Pound (GBP) stood at 82.92. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| June 02, 2017 | 64.4208 | 82.9225 |
| June 01, 2017 | 64.4704 | 82.8703 |
