Indian rupee strengthened against dollar in early deals on Tuesday on increased selling of the American currency by exporters and banks. Besides, weakness in the dollar against other currencies and a higher opening in the domestic equity market also supported the rupee uptrend. However, traders fear that the US Fed may hike interest rate, after strong non-farm payroll data, which could spur dollar outflows from emerging markets, including India. On the global front, the dollar was little changed against the yen and euro on Tuesday as crude oil and equity prices took a breather after a recent slide. But the US currency remained vulnerable to any surprise from a two-day policy-setting US central bank meeting that ends on Wednesday.
The partially convertible currency is currently trading at 67.08, stronger by 2 paise from its previous close of 67.10 on Monday. The currency touched a high and low of 67.11 and 66.9650 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.99 and for Euro stood at 73.46 on December 14, 2015. While, the RBI’s reference rate for the Yen stood at 55.29 the reference rate for the Great Britain Pound (GBP) stood at 101.7840. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| December 14, 2015 | 66.9940 | 101.7840 |
| December 11, 2015 | 66.7860 | 101.1006 |
(RBI-Reference Rate)
