Indian rupee strengthened against the US dollar on Thursday due to sustained selling of the American currency by exporters and banks. Further, dollar's weakness against major currencies overseas and robust foreign fund inflows supported the rupee. However, the rupee's gains were restricted as domestic equities remained weak. On the global front, the euro inched higher on Thursday, as investors awaited details of the European Central Bank’s plans for scaling back its bond-buying stimulus programme, while the dollar took a breather after its recent rally.
The partially convertible currency is currently trading at 64.77, stronger by 13 paise from its previous close of 64.90 on Wednesday. The currency touched a high and low of 64.8075 and 64.7250 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 65.13 and for Euro stood at 76.59 on October 25, 2017. While the RBI's reference rate for the Yen stood at 57.19, the reference rate for the Great Britain Pound (GBP) stood at 85.48. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| October 25, 2017 | 65.1386 | 85.4814 |
| October 24, 2017 | 64.9256 | 85.7927 |
(RBI-Reference Rate)
