Indian rupee strengthened against the US dollar on Monday amid weakness in the American currency against other currencies overseas ahead of key central bank policy meetings and the US-North Korea summit this week. Besides, selling of the American currency by exporters and banks and a higher opening in the domestic equity market too influenced the rupee uptrend. On the global front, the yen ticked higher while the Canadian dollar fell modestly on Monday, after US President Donald Trump threw the G7’s efforts to show a united front into disarray though market reaction was relatively muted. The euro edged up as traders looked to the European Central Bank’s policy meeting on Thursday for when and how it would wind up its bond purchases and eventually lifts interest rates from current deep negative levels.
The partially convertible currency is currently trading at 67.39, stronger by 12 paise from its previous close of 67.51 on Friday. The currency touched a high and low of 67.4800 and 67.3400 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.52 and for Euro stood at 79.58 on June 08, 2018. While, the RBI’s reference rate for the Yen stood at 61.60, the reference rate for the Great Britain Pound (GBP) stood at 90.60. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| June 08, 2018 | 67.5228 | 90.6021 |
| June 07, 2018 | 67.0181 | 90.0455 |
(RBI-Reference Rate)
