Indian rupee strengthened against the US dollar on Friday on account of fresh selling of the American currency by exporters and banks. Besides, the dollar's weakness against other major currencies on fears that a huge amount of foreign demand for American currency would dry up bolstered the rupee. The rupee improved further ahead of the key consumer price inflation (CPI) and index of industrial production (IIP) data due later today. On the global front, the dollar slumped against rivals on Friday on the back of weak factory inflation data, while the euro enjoyed solid support after the European Central Bank hinted that it could be gearing up to trim its massive monetary stimulus.
The partially convertible currency is currently trading at 63.50, stronger by 16 paise from its previous close of 63.66 on Thursday. The currency touched a high and low of 63.6075 and 63.4650 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 63.73 and for Euro stood at 76.13 on January 11, 2018. While the RBI's reference rate for the Yen stood at 57.03, the reference rate for the Great Britain Pound (GBP) stood at 86.01. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| January 11, 2018 | 63.7364 | 86.0123 |
| January 10, 2018 | 63.8264 | 86.2805 |
(RBI-Reference Rate)
