Indian rupee strengthened a bit against the US dollar on Friday on account of dollar selling by banks and exporters. Besides, the dollar's weakness against other currencies overseas too supported the uptrend. Further, a strong opening in domestic stocks helped the upside. On the global front, the dollar sagged against the yen on Friday and was on track for weekly losses, bruised by worries that political turmoil in Washington could delay efforts by US President Donald Trump to implement his economic stimulus plans.
The partially convertible currency is currently trading at 64.82, little changed from its previous close of 64.83 on Thursday. The currency touched a high and low of 64.8475 and 64.6800 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.34 and for Euro stood at 71.62 on May 18, 2017. While the RBI’s reference rate for the Yen stood at 57.80, the reference rate for the Great Britain Pound (GBP) stood at 83.30. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| May 18, 2017 | 64.3441 | 83.3063 |
| May 17, 2017 | 64.0214 | 82.7669 |
