Indian rupee improved marginally against the US dollar on Thursday after the US Fed Reserve minutes signaled ‘patience in removing policy accommodation’. The summary of the US central bank’s previous meeting released on Wednesday also showed a strong degree of caution over the timing of future interest rate increases. This made the American currency lose its shine further among banks and exporters. Further, a higher opening in domestic equities too aided the rupee uptrend. Meanwhile, traders and investors are awaiting key inflation and factory output data due later in the day. On the global front, the dollar hit a two-week low versus a basket of currencies on Thursday after minutes from the US Federal Reserve’s latest meeting suggested some central bankers are still concerned about persistently low inflation.
The partially convertible currency is currently trading at 65.11, stronger by 2 paise from its previous close of 65.13 on Wednesday. The currency touched a high and low of 65.1625 and 65.0900 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 65.26 and for Euro stood at 77.16 on October 11, 2017. While the RBI's reference rate for the Yen stood at 58.08, the reference rate for the Great Britain Pound (GBP) stood at 86.11. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| October 11, 2017 | 65.2691 | 86.1161 |
| October 10, 2017 | 65.2652 | 85.9412 |
(RBI-Reference Rate)
