Indian rupee strengthened against the US dollar on Monday on account of increased selling of the American currency by exporters and banks. Further, a higher opening of the domestic equity market supported the rupee, but the dollar's strength against some currencies overseas, capped the gains. Meanwhile, investors are keeping an eye on RBI's second bi-monthly monetary policy meeting of 2018-19, being held from June 4-6. On the global front, the dollar gained against the yen on Monday after the release of an upbeat US jobs report, although uncertainty over potential political risks kept the currency’s near-term outlook murky.
The partially convertible currency is currently trading at 67.05, tad stronger by one paise from its previous close of 67.06 on Friday. The currency touched a high and low of 67.1075 and 66.8500 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.18 and for Euro stood at 78.41 on June 01, 2018. While, the RBI’s reference rate for the Yen stood at 61.56, the reference rate for the Great Britain Pound (GBP) stood at 89.13. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| June 01, 2018 | 67.1840 | 89.1397 |
| May 31, 2018 | 67.4526 | 89.7929 |
(RBI-Reference Rate)
