Indian rupee improved marginally against the US dollar on Monday amid a strong domestic equity market. However, buying of American currency by banks and importers, capped some gains. Meanwhile, forex market had remained closed on Thursday and Friday on account of Diwali holidays. On the global front, the dollar touched a three-month high against the yen on Monday, with an emphatic election victory for Japan’s ruling party keeping yen-weakening stimulus measures at the heart of government policy.
The partially convertible currency is currently trading at 65.02, little changed from its previous close of 65.03 on Wednesday. The currency touched a high and low of 65.1150 and 65.0000 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 65.06 and for Euro stood at 76.54 on October 18, 2017. While the RBI's reference rate for the Yen stood at 57.93, the reference rate for the Great Britain Pound (GBP) stood at 85.74. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| October 18, 2017 | 65.0649 | 85.7425 |
| October 17, 2017 | 64.9226 | 86.0354 |
(RBI-Reference Rate)
