Indian rupee strengthened against the US dollar on Tuesday on account of increased selling of the American currency by exporters and banks. Also, a higher opening of domestic equities supported the rupee, but the dollar's recovery against some currencies overseas, restricted the local unit's up move. On the global front, the dollar bounced against the yen on Tuesday, with broader risk appetite improving after a speech by Chinese President Xi Jinping promising to cut import tariffs eased concerns about a trade conflict between the world’s two largest economies. Meanwhile, traders are cautious as the Federal Open Market Committee releases minutes of its 20-21 March meeting on Wednesday, at which central bankers raised their target rate a quarter-point for overnight bank lending.
The partially convertible currency is currently trading at 64.93, stronger by 10 paise from its previous close of 65.03 on Monday. The currency touched a high and low of 64.9350 and 64.8800 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.92 and for Euro stood at 79.68 on April 09, 2018. While the RBI’s reference rate for the Yen stood at 60.66, the reference rate for the Great Britain Pound (GBP) stood at 91.49. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| April 09, 2018 | 64.9287 | 91.4975 |
| April 06, 2018 | 64.9884 | 90.9578 |
(RBI-Reference Rate)
