Indian rupee strengthened against the US dollar on Friday, on increased selling of the American currency by exporters and banks. Besides, a strong domestic equity market and sustained foreign fund inflows too supported the rupee. Moreover, the dollar’s weakness against some currencies overseas supported the rupees up move. On the global front, the British pound is set to mostly hold steady against both a shaky dollar and the firming euro this year, but much will hinge on progress in Britain’s talks with Brussels on its withdrawal from the European Union.
The partially convertible currency is currently trading at 63.34, stronger by 7 paise from its previous close of 63.41 on Thursday. The currency touched a high and low of 63.3750 and 63.3100 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 63.39 and for Euro stood at 76.24 on January 04, 2018. While the RBI's reference rate for the Yen stood at 56.31, 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 |
| January 04, 2018 | 63.3914 | 85.7432 |
| January 03, 2018 | 63.4833 | 86.4071 |
(RBI-Reference Rate)
