Indian rupee strengthened against the US dollar on Wednesday on the back of fresh selling of the US currency by banks and exporters. Further, dollar’s weakness against other currencies overseas and higher opening of stock markets too supported the rupee. On the global front, the dollar was buoyant against the yen on Wednesday, although it was capped against the euro with a potentially supportive spike in US yields neutralised by a similar move by their German counterparts. The pound reached a one-year high after a robust UK inflation report added pressure on the Bank of England to do more to support the currency.
The partially convertible currency is currently trading at 64.00, stronger by 4 paise from its previous close of 64.04 on Tuesday. The currency touched a high and low of 64.0250 and 63.9800 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 63.94 and for Euro stood at 76.55 on September 12, 2017. While the RBI's reference rate for the Yen stood at 58.41, the reference rate for the Great Britain Pound (GBP) stood at 84.35. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| September 12, 2017 | 63.9474 | 84.3594 |
| September 11, 2017 | 63.8859 | 84.2591 |
