Indian rupee strengthened against the US dollar on Thursday on increased selling of the American currency by exporters and banks. Besides, dollar's weakness against other currencies overseas also supported the domestic unit. On the global front, the dollar wallowed near three-year lows against its peers on Thursday after caving on comments by US Treasury Secretary Steven Mnuchin that he welcomed a weaker currency, while the euro steadied ahead of the European Central Bank's policy decision.
The partially convertible currency is currently trading at 63.53, stronger by 16 paise from its previous close of 63.69 on Wednesday. The currency touched a high and low of 63.5400 and 63.1000 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 63.64 and for Euro stood at 78.45 on January 24, 2018. While the RBI's reference rate for the Yen stood at 57.92, the reference rate for the Great Britain Pound (GBP) stood at 89.32. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| January 24, 2018 | 63.6439 | 89.3242 |
| January 23, 2018 | 63.7722 | 89.2046 |
(RBI-Reference Rate)
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