Indian rupee surged against the US currency on Thursday as the dollar weakened globally after the US Federal Reserve kept policy rates unchanged. Further, increased selling of the American currency by exporters and banks amid a firm domestic equity market lifted the domestic currency. On the global front, the dollar licked its wounds at 13-month lows against a basket of major currencies after the US Federal Reserve's more cautious wording on the inflation outlook bolstered views it might not hike interest rates again this year.
The partially convertible currency is currently trading at 64.15, stronger by 21 paise from its previous close of 64.36 on Wednesday. The currency touched a high and low of 64.2050 and 64.0650 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.42 and for Euro stood at 74.92 on July 26, 2017. While the RBI’s reference rate for the Yen stood at 57.56, the reference rate for the Great Britain Pound (GBP) stood at 83.83. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| July 26, 2017 | 64.4208 | 83.8308 |
| July 25, 2017 | 64.3580 | 83.8778 |
(RBI-Reference Rate)
