Indian rupee strengthened against the US dollar on Thursday on account of fresh dollar selling by banks and exporters. Further, weakness of dollar against other currencies overseas too added momentum to the rupee. Meanwhile, the flagship Sensex broke through the 32,000-mark for the first time ever and the Nifty too hit a fresh life time high, adding support to rupee. On the global trend, the dollar dipped against its peers on Thursday after Federal Reserve Chair Janet Yellen did not sound as hawkish as many had anticipated, while the Canadian dollar stood near a 13-month high after its country's central bank hiked interest rates for the first time since 2010.
The partially convertible currency is currently trading at 64.45, stronger by 8 paise from its previous close of 64.53 on Wednesday. The currency touched a high and low of 64.5000 and 64.3900 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.49 and for Euro stood at 73.97 on July 12, 2017. While the RBI’s reference rate for the Yen stood at 56.85, the reference rate for the Great Britain Pound (GBP) stood at 82.69. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| July 12, 2017 | 64.4969 | 82.6915 |
| July 11, 2017 | 64.5025 | 83.0857 |
(RBI-Reference Rate)
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: