Indian rupee strengthened against dollar in early deals on Tuesday due to fresh selling of the US currency by exporters. Further, weakening dollar against some currencies overseas and early gains in domestic equity markets also supported the rupee. All eyes were on the US Federal Reserve's two-day meet beginning later in the day. Cues on when the US apex bank will start raising interest rates will be a key factor that may drive dollar movement in the near future. On the global front, the safe-haven yen held firm in early trade on Tuesday, as investors remained cautious ahead of a two-day US Federal Reserve meeting beginning later this session.
The partially convertible currency is currently trading at 64.03, stronger by 14 paise from its previous close of 64.17 on Monday. The currency touched a high and low of 64.1125 and 63.99 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.00 and for Euro stood at 70.61 on July 27, 2015. While, the RBI’s reference rate for the Yen stood at 51.85, the reference rate for the Great Britain Pound (GBP) stood at 99.4348. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| July 27, 2015 | 64.0028 | 99.4348 |
| July 24, 2015 | 63.8916 | 99.1023 |
(RBI-Reference Rate)
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