Indian rupee strengthened against the US dollar on Monday on account of fresh selling of the American currency by exporters and banks. Besides, a firm domestic equity market and fresh bout of foreign fund inflows too added support to domestic unit. However, the dollar’s recovery against some currencies overseas on a strong US jobs report restricted the rupees’ up move. On the global front, the euro pulled away from highs hit early in the Asian session on Monday as investors took profits from its gains after centrist Emmanuel Macron's victory over the far-right Marine Le Pen in France's presidential election.
The partially convertible currency is currently trading at 64.22, stronger by 15 paise from its previous close of 64.37 on Friday. The currency touched a high and low of 64.26 and 64.19 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.30 and for Euro stood at 70.59 on May 05, 2017. While the RBI’s reference rate for the Yen stood at 57.37, the reference rate for the Great Britain Pound (GBP) stood at 83.13. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| May 05, 2017 | 64.3079 | 83.1308 |
| May 04, 2017 | 64.2115 | 82.5631 |
