Indian rupee strengthened against US dollar on Wednesday on account of fresh selling of the American currency by exporters and banks. However, dollar’s strength against other currencies overseas, as a surge in the benchmark 10-year Treasury yield above 3 percent reignited a rally that had lost steam last week, capped the rupee’s gains.
The partially convertible currency is currently trading at 67.82, stronger by 28 paise from its previous close of 68.10 on Tuesday. The currency touched a high and low of 68.1325 and 67.7500 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.52 and for Euro stood at 80.52 on May 15, 2018. While the RBI’s reference rate for the Yen stood at 61.44, the reference rate for the Great Britain Pound (GBP) stood at 91.48. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| May 15, 2018 | 67.5288 | 91.4880 |
| May 14, 2018 | 67.3153 | 91.2459 |
(RBI-Reference Rate)
