Indian rupee strengthened against the US currency on Wednesday due to dollar selling by banks and exporters and a firm domestic equity market. Market sentiments are also positive in the country post Moody’s upgrade of India’s credit rating, however, the dollar’s clout overseas weighed heavily on the domestic unit. On the global front, the dollar treaded water against its peers on Wednesday, as US Treasury yields failed to rise despite increasing investor risk appetite in broader financial markets.
The partially convertible currency is currently trading at 64.74, stronger by 16 paise from its previous close of 64.90 on Tuesday. The currency touched a high and low of 64.8275 and 64.7125 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 65.03 and for Euro stood at 76.38 on November 21, 2017. While the RBI's reference rate for the Yen stood at 57.82, the reference rate for the Great Britain Pound (GBP) stood at 86.18. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| November 21, 2017 | 65.0386 | 86.1892 |
| November 20, 2017 | 65.0565 | 85.9331 |
(RBI-Reference Rate)
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