Indian rupee strengthened against the US dollar on Monday on the back of positive cues from the domestic markets hitting fresh record highs amid positive macro-economic data and encouraging corporate earnings. Industrial production growth zoomed to 8.4 percent in November 2017. The industrial output, measured in terms of Index of Industrial Production (IIP), grew 5.1 percent in November 2016. Further, selling of the American currency by exporters and losses in the greenback in overseas markets too supported the rupee. On the global front, the dollar languished at three-year lows against a basket of currencies on Monday, while the euro stood tall on investors’ hopes that European Central Bank policymakers could be poised to further trim their monetary stimulus.
The partially convertible currency is currently trading at 63.38, stronger by 24 paise from its previous close of 63.62 on Friday. The currency touched a high and low of 63.4875 and 63.3375 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 63.52 and for Euro stood at 76.53 on January 12, 2018. While the RBI's reference rate for the Yen stood at 57.09, the reference rate for the Great Britain Pound (GBP) stood at 86.05. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| January 12, 2018 | 63.5263 | 86.0527 |
| January 11, 2018 | 63.7364 | 86.0123 |
(RBI-Reference Rate)
