Indian rupee strengthened against the US dollar on Monday on account of sustained inflows by foreign institutional investors. Further, fresh selling of the American unit by exporters and banks amid a better opening in domestic equities too supported rupee. However, a strong dollar overseas capped the rupee’s gains. On the global front, the dollar huddled near a 10-month trough on Monday, as the diminished risk of aggressive US policy tightening sent investors piling into leveraged positions in higher yielding currencies or risky assets.
The partially convertible currency is currently trading at 64.38, stronger by 6 paise from its previous close of 64.44 on Friday. The currency touched a high and low of 64.3775 and 64.3350 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.45 and for Euro stood at 73.56 on July 14, 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 83.54. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| July 14, 2017 | 64.4539 | 83.5451 |
| July 13, 2017 | 64.4384 | 83.2480 |
(RBI-Reference Rate)
