Indian rupee strengthened against the US dollar on Friday on account of increased selling of the US currency by exporters and banks. Further, dollar’s weakness against other currencies overseas and a higher opening in the domestic equity market too supported the rupee uptrend. On the global front, the US dollar was lodged near a three-year low against a basket of currencies on Friday with fears over a possible US government shutdown adding to its underlying woes stemming from its eroding yield advantage.
The partially convertible currency is currently trading at 63.68, stronger by 19 paise from its previous close of 63.87 on Thursday. The currency touched a high and low of 63.7000 and 63.6250 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 63.84 and for Euro stood at 77.88 on January 18, 2018. While the RBI's reference rate for the Yen stood at 57.41, the reference rate for the Great Britain Pound (GBP) stood at 88.28. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| January 18, 2018 | 63.8431 | 88.2822 |
| January 17, 2018 | 63.9797 | 88.1256 |
(RBI-Reference Rate)
