Indian rupee strengthened against the US dollar on Monday on selling of American currency by exporters and banks amid gains in stocks, which scaled record levels. Besides, continued foreign fund inflows and weakness in the greenback against other currencies overseas too supported the rupee. Furthermore, a higher opening in the domestic equity market gave the uptrend some momentum. On the global front, the dollar held steady above a recent 3-1/2 month low against a basket of major peers on Monday, after data showing slower U.S. jobs growth did little to dent expectations for further Federal Reserve interest rate increases this year.
The partially convertible currency is currently trading at 63.29, stronger by 8 paise from its previous close of 63.37 on Friday. The currency touched a high and low of 63.3425 and 63.2450 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 63.38 and for Euro stood at 76.50 on January 05, 2018. While the RBI's reference rate for the Yen stood at 56.06, the reference rate for the Great Britain Pound (GBP) stood at 86.02. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| January 05, 2018 | 63.3823 | 86.0225 |
| January 04, 2018 | 63.3914 | 85.7432 |
(RBI-Reference Rate)
