Indian rupee improved marginally against US dollar on Monday, followed by a record opening in the domestic equity market. Further, forex inflows in stocks also improved the market sentiment. However, the dollar’s strength against other currencies overseas capped some gains. The forex market was closed on Friday for the ‘Republic Day’ holiday. On the global front, the dollar crawled up from lows on Monday but struggled to pull ahead from six straight weeks of losses on its evaporating yield advantage and doubts about Washington’s commitment to a strong currency.
The partially convertible currency is currently trading at 63.51, stronger by 3 paise from its previous close of 63.54 on Thursday. The currency touched a high and low of 63.6250 and 63.5050 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 63.49 and for Euro stood at 79.06 on January 25, 2018. While the RBI's reference rate for the Yen stood at 58.36, the reference rate for the Great Britain Pound (GBP) stood at 90.91. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| January 25, 2018 | 63.4983 | 90.9169 |
| January 24, 2018 | 63.6439 | 89.3242 |
(RBI-Reference Rate)
