Indian rupee strengthened against US dollar on Friday on account of some selling of the US currency by exporters and banks. Besides, a positive opening for the stock markets also boosted the domestic currency. On the global front, the dollar rose against the safe haven yen on Friday as hopes of a breakthrough in the North Korean nuclear standoff rose after US President Donald Trump showed willingness to accept an invitation to meet North Korean leader Kim Jong Un by May. The greenback had gained ground earlier against the yen as some fears of a global trade war receded. Trump imposed import tariffs on steel and aluminum, while softening his stance by announcing exemptions for Canada and Mexico, and leaving open the chance for other countries to obtain their own.
The partially convertible currency is currently trading at 65.09, stronger by 5 paise from its previous close of 65.14 on Thursday. The currency touched a high and low of 65.1450 and 65.0500 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.92 and for Euro stood at 80.54 on March 08, 2018. While the RBI’s reference rate for the Yen stood at 61.26, the reference rate for the Great Britain Pound (GBP) stood at 90.22. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| March 08, 2018 | 64.9212 | 90.2275 |
| March 07, 2018 | 64.9627 | 90.3371 |
(RBI-Reference Rate)
