Indian rupee strengthened against US dollar on Wednesday on account of sustained selling of American currency by exporters. Further, domestic equity markets opened in green following firm global cues too supported rupee. However, the US currency’s strength against other currencies overseas capped the gains to some extent. On the global front, the dollar edged higher as investors awaited the outcome of the Federal Reserve’s policy meeting for clues about future tightening, while the beleaguered New Zealand dollar came roaring back to life on strong jobs data.
The partially convertible currency is currently trading at 64.59, stronger by 15 paise from its previous close of 64.74 on Tuesday. The currency touched a high and low of 64.6950 and 64.5600 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 64.77 and for Euro stood at 75.42 on October 31, 2017. While the RBI's reference rate for the Yen stood at 57.27, the reference rate for the Great Britain Pound (GBP) stood at 85.59. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| October 31, 2017 | 64.7745 | 85.5995 |
| October 30, 2017 | 64.9338 | 85.3750 |
(RBI-Reference Rate)
