Indian rupee strengthened against the US dollar on Thursday on account of increased selling of the American currency by exporters. Besides, the dollar's weakness against some currencies overseas and a better opening of domestic equities too supported the rupee's recovery. Furthermore, easing concerns around the rift between the government and the RBI, after the Finance Ministry said the autonomy for the central bank, within the framework of the RBI Act, was an ‘essential and accepted’ governance requirement, also lifted the local unit. On the global front, the British pound jumped on a report that Prime Minister Theresa May has struck a deal with Brussels that would give UK financial services companies continued access to European markets after Brexit.
The partially convertible currency is currently trading at 73.84, stronger by 11 paise from its previous close of 73.95 on Wednesday. The currency touched a high and low of 73.8800 and 73.7600 respectively. The reference rate for the dollar stood at 73.99 and for Euro stood at 83.92 on October 31, 2018. While the reference rate for the Yen stood at 65.36, the reference rate for the Great Britain Pound (GBP) stood at 94.10. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| October 31, 2018 | 73.9936 | 94.1016 |
| October 30, 2018 | 73.5709 | 94.1840 |
(Reference Rate)
