Indian rupee strengthened against the US dollar on Friday on account of better than expected macro economic data. Reflecting improvement in the economic situation, industrial production grew by 7.1 percent in February, while key retail inflation slipped to a five-month low of 4.28 percent in March. Besides, firm trade in local equities markets amid good FII inflows supporting the rupee’s sentiment. On the global front, the dollar neared a 1-1/2-month high against the yen on Friday, as an improvement in investor risk appetite buoyed equities and pushed US yields significantly higher.
The partially convertible currency is currently trading at 65.21, stronger by 4 paise from its previous close of 65.25 on Thursday. The currency touched a high and low of 65.2950 and 65.2025 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 65.34 and for Euro stood at 80.79 on April 12, 2018. While the RBI’s reference rate for the Yen stood at 61.15, the reference rate for the Great Britain Pound (GBP) stood at 92.70. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| April 12, 2018 | 65.3496 | 92.7049 |
| April 11, 2018 | 65.1272 | 92.5197 |
(RBI-Reference Rate)
