Indian rupee was trading strong in early trade on Monday, snapping its two-day losing run, on fresh selling of the US currency by exporters amid fall in global crude prices. Besides, weakening dollar against some currencies overseas and early gains in domestic equity markets too supported the rupee. Improved fiscal deficit data released on Friday is also helping rupee trade higher. On the global front, the dollar stayed on the back foot early on Monday after suffering a setback late last week when subdued wage growth clouded the outlook on the timing for an interest rate hike.
The partially convertible currency is currently trading at 63.96, stronger by 17 paise from its previous close of 64.13 on Friday. The currency touched a high and low of 64.01 and 63.9450 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.00 and for Euro stood at 70.16 on July 31, 2015. While, the RBI’s reference rate for the Yen stood at 51.55, the reference rate for the Great Britain Pound (GBP) stood at 99.8356. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| July 31, 2015 | 64.0054 | 99.8356 |
| July 30, 2015 | 64.0061 | 99.8303 |
(RBI-Reference Rate)
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