Indian rupee strengthened against the US dollar on Monday due to heavy dollar selling by banks and exporters. Further, the dollar’s slide overseas amid concerns over renewed show of strength on the Korean Peninsula and a strong opening of the domestic equities supported the rupee uptrend. On the global front, the dollar struggled on Monday, wallowing near a 2-1/2-year low against the euro, weighed down by US political uncertainty and uninspiring US data that added to doubts about whether there will be another Federal Reserve rate hike this year.
The partially convertible currency is currently trading at 64.09, stronger by 6 paise from its previous close of 64.15 on Friday. The currency touched a high and low of 64.1275 and 64.0475 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.14 and for Euro stood at 74.98 on July 28, 2017. While the RBI’s reference rate for the Yen stood at 57.78, the reference rate for the Great Britain Pound (GBP) stood at 83.88. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| July 28, 2017 | 64.1483 | 83.8867 |
| July 27, 2017 | 64.1216 | 84.2109 |
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