Indian rupee strengthened against the US dollar on Monday on account of dollar selling by banks and exporters. The rupee sentiment improved further as the domestic equities remained firm. However, the US dollar’s strength against major global currencies capped the rupee’s gains. On the global front, the dollar edged up in early Asian trading on Monday, moving tentatively away from the four-month low against the yen plumbed in the previous session on concerns that White House personnel changes will impair President Donald Trump's ability to pass tax reform and stimulus measures. Investors looked ahead to the US Federal Reserve's annual central banking symposium in Jackson Hole, Wyoming on Thursday and Friday.
The partially convertible currency is currently trading at 64.06, stronger by 8 paise from its previous close of 64.14 on Friday. The currency touched a high and low of 64.08 and 64.0475 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.10 and for Euro stood at 75.20 on August 18, 2017. While the RBI’s reference rate for the Yen stood at 58.63, the reference rate for the Great Britain Pound (GBP) stood at 82.61. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| August 18, 2017 | 64.1048 | 82.6183 |
| August 16, 2017 | 64.2428 | 82.6162 |
