Indian rupee strengthened against the US currency on Wednesday on account of increased selling of the dollar by exporters and banks. Further, dollar's weakness against major world currencies overseas and a strong domestic equity market too supported the rupee. On the global front, the dollar pulled away from the previous session’s 4-1/2 month lows against the yen on Wednesday as investors’ concerns over North Korea’s latest missile test eased for now, while the Australian dollar surged on upbeat construction data.
The partially convertible currency is currently trading at 63.94, stronger by 8 paise from its previous close of 64.02 on Tuesday. The currency touched a high and low of 63.9675 and 63.9275 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.01 and for Euro stood at 76.75 on August 29, 2017. While the RBI’s reference rate for the Yen stood at 58.81, the reference rate for the Great Britain Pound (GBP) stood at 82.88. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| August 29, 2017 | 64.0174 | 82.8833 |
| August 28, 2017 | 63.8701 | 82.3605 |
