Indian rupee strengthened against US dollar on Monday on account of fresh selling of the American currency by exporters and banks. Besides, dollar’s weakness against some other currencies overseas and firm domestic equity markets supported the local currency. Rupee improved further after crude oil prices posted its biggest drop in about a year and the US-Korea summit appears to be back on track. On the global front, the euro crawled off a 6-1/2-month low against the dollar on Monday, catching its breath after Italy’s president tried to allay investor worries about political unrest in the country, although the prospect of a near-term election capped gains.
The partially convertible currency is currently trading at 67.42, stronger by 35 paise from its previous close of 67.77 on Friday. The currency touched a high and low of 67.5300 and 67.3200 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.26 and for Euro stood at 79.88 on May 25, 2018. While, the RBI’s reference rate for the Yen stood at 62.38, the reference rate for the Great Britain Pound (GBP) stood at 91.21. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| May 25, 2018 | 68.2600 | 91.2158 |
| May 24, 2018 | 68.3872 | 91.4405 |
(RBI-Reference Rate)
