Indian rupee strengthened against the US dollar on Thursday on account of sustained foreign capital inflows. Besides, domestic equity markets soaring to new highs and the dollar losing sheen against some other currencies overseas, also supported the local unit. The government's decision to lower its additional borrowing requirement for the current fiscal to Rs 20,000 crore, from Rs 50,000 crore, estimated earlier had a positive impact on the rupee movement.
The partially convertible currency is currently trading at 63.81, stronger by 7 paise from its previous close of 63.88 on Wednesday. The currency touched a high and low of 63.9475 and 63.8000 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 63.97 and for Euro stood at 78.34 on January 17, 2018. While the RBI's reference rate for the Yen stood at 57.74, the reference rate for the Great Britain Pound (GBP) stood at 88.12. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| January 17, 2018 | 63.9797 | 88.1256 |
| January 16, 2018 | 63.7602 | 87.9126 |
(RBI-Reference Rate)
