Indian rupee strengthened against dollar in early deals on Tuesday on continued selling of the American unit by banks and exporters and on crude falling to multi-year lows. Besides, the dollar's weakness against some currencies overseas too supported rupee's uptrend. Reserve bank of India’s (RBI’s) intervention in the Forex markets has also provided lot of stability to the Indian rupee. But, a lower opening in domestic equity market capped the gains. On the global front, the dollar drifted lower in light Asian trading on amid doubts about how far and fast the Federal Reserve would raise US interest rates next year.
The partially convertible currency is currently trading at 66.31, stronger by 4 paise from its previous close of 66.35 on Monday. The currency touched a high and low of 66.32 and 66.2875 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.32 and for Euro stood at 72.13 on December 21, 2015. While, the RBI’s reference rate for the Yen stood at 54.67 the reference rate for the Great Britain Pound (GBP) stood at 98.9886. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| December 21, 2015 | 66.3240 | 98.9886 |
| December 18, 2015 | 66.4235 | 99.1703 |
(RBI-Reference Rate)
