Indian rupee strengthened against the US dollar on Wednesday ahead of RBI’s monetary policy decision amid fresh selling by exporters and higher opening of the domestic equity markets. Further, dollar’s weakness against some currencies overseas amid lingering concerns about global trade too supported the rupee. On the global front, the euro held firm on Wednesday as investors started to focus on the European Central Bank’s policy meeting next week, while concerns that the United States could pull out of a trade pact with Canada and Mexico hit the peso and the Canadian dollar.
The partially convertible currency is currently trading at 67.04, stronger by 11 paise from its previous close of 67.15 on Tuesday. The currency touched a high and low of 67.1300 and 67.0100 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.17 and for Euro stood at 78.53 on June 05, 2018. While, the RBI’s reference rate for the Yen stood at 61.14, the reference rate for the Great Britain Pound (GBP) stood at 89.42. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| June 05, 2018 | 67.1794 | 89.4292 |
| June 04, 2018 | 67.0543 | 89.6181 |
(RBI-Reference Rate)
