Indian rupee strengthened against the US dollar on Wednesday ahead of the Reserve Bank of India’s (RBI) bi-monthly policy decision due later in the day. Rupee improved further tracking the gains by Asian currencies after the dollar weakened before US payroll data. A higher opening in domestic equities too aided the rupee uptrend.The dollar retreated globally as attention shifted to the likely composition of the new Federal Reserve board after the incumbent Chair Janet Yellen’s term ends.
The partially convertible currency is currently trading at 65.36, stronger by 14 paise from its previous close of 65.50 on Tuesday. The currency touched a high and low of 65.3875 and 65.3250 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 65.55 and for Euro stood at 76.77 on October 03, 2017. While the RBI's reference rate for the Yen stood at 57.97, the reference rate for the Great Britain Pound (GBP) stood at 86.87. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| October 03, 2017 | 65.5529 | 86.8707 |
| September 29, 2017 | 65.3552 | 87.7067 |
(RBI-Reference Rate)
