Indian rupee strengthened against the US dollar on Friday on account of increased selling of the American currency by exporters and banks. Besides, the dollar’s weakness against some currencies overseas, and a higher opening in the domestic equity market too supported the rupee. On the global front, the yen stepped back from a two-week high against the dollar on Friday when North Korea said it was open to resolving issues with the United States after President Donald Trump called off a June summit with its leader, Kim Jong Un.
The partially convertible currency is currently trading at 68.25, stronger by 9 paise from its previous close of 68.34 on Thursday. The currency touched a high and low of 68.2650 and 68.1575 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.38 and for Euro stood at 80.14 on May 24, 2018. While the RBI’s reference rate for the Yen stood at 62.40, the reference rate for the Great Britain Pound (GBP) stood at 91.44. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| May 24, 2018 | 68.3872 | 91.4405 |
| May 23, 2018 | 68.2139 | 91.4271 |
(RBI-Reference Rate)
