Indian rupee recovered against the US dollar on Wednesday on account of mild selling of the American currency by exporters amid a higher opening in the domestic equity market. Further, the dollar's weakness against major global currencies overseas too supported the rupee. Though, traders remain cautious ahead of the Index of Industrial Production (IIP) data for November and Consumer Price Index (CPI) data for December on 12 January. On the global front, the dollar edged up in early Asian trade on Wednesday, bolstered by higher US Treasury yields but still constrained against the yen after the Bank of Japan’s move to trim its purchases of Japanese government bonds triggered tapering fears.
The partially convertible currency is currently trading at 63.68, stronger by 3 paise from its previous close of 63.71 on Tuesday. The currency touched a high and low of 63.7100 and 63.6375 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 63.46 and for Euro stood at 75.91 on January 09, 2018. While the RBI's reference rate for the Yen stood at 56.33, the reference rate for the Great Britain Pound (GBP) stood at 86.15. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| January 09, 2018 | 63.4690 | 86.1528 |
| January 08, 2018 | 63.3482 | 85.8875 |
(RBI-Reference Rate)
