Indian rupee strengthened against US dollar on Friday after international rating agency Moody's Investors Service upgraded India's local and foreign currency issuer ratings to ‘Baa2’ from ‘Baa3’ and changed the outlook to stable from positive. Further, the rally was supported by the dollar selling by exporters and banks and the US unit’s weakness against some currencies overseas. On the global front, the dollar slipped on Friday, weakened by a Wall Street Journal report that investigators into possible Russian interference in the 2016 US presidential election had subpoenaed President Donald Trump’s election campaign for documents.
The partially convertible currency is currently trading at 64.85, stronger by 46 paise from its previous close of 65.31 on Thursday. The currency touched a high and low of 64.8725 and 64.6300 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 65.29 and for Euro stood at 76.99 on November 16, 2017. While the RBI's reference rate for the Yen stood at 57.81, the reference rate for the Great Britain Pound (GBP) stood at 86.04. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| November 16, 2017 | 65.2969 | 86.0483 |
| November 15, 2017 | 65.3689 | 85.9143 |
(RBI-Reference Rate)
