Indian rupee strengthened against the American currency on Monday, on fresh dollar selling by exporters and banks, and higher opening in the domestic equity markets. Further, RBI’s liquidity infusion announcement and easing global crude oil prices gave some support to the local unit. On Friday, RBI had said, based on an assessment of the durable liquidity needs going forward, RBI has decided to conduct purchase of Government securities under Open Market Operations (OMOs) for an aggregate amount of Rs 400 billion in the month of November 2018. On the global front, the dollar edged higher against a basket of its key rivals on Monday, not far off a 10-week high hit after data showed US economic growth slowed less than expected and as global risk sentiment remained fragile.
The partially convertible currency is currently trading at 73.37, stronger by 10 paise from its previous close of 73.47 on Friday. The currency touched a high and low of 73.4200 and 73.3200 respectively. The reference rate for the dollar stood at 73.37 and for Euro stood at 83.40 on October 26, 2018. While the reference rate for the Yen stood at 65.41, the reference rate for the Great Britain Pound (GBP) stood at 94.05. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| October 26, 2018 | 73.3740 | 94.0503 |
| October 25, 2018 | 73.2746 | 94.6190 |
(Reference Rate)
