Indian rupee, after making a weak start, recouped a lot of ground and was trading strong against dollar on Thursday on the back of positive local equities. Indian rupee has also derived some support from falling oil prices and ensuing mitigation of India’s current account deficit. However, month end dollar demand from banks and importers and lack of directional cues from currency markets globally weighed on the sentiment. Currency markets in most of Asia and Europe were shut for the day on account of New Year's Eve. On the global front, the dollar edged down against the yen in quiet trade Thursday as investors turned attention to the pace of further Federal Reserve interest rate increases and the health of the US economy.
The partially convertible currency is currently trading at 66.33, stronger by 6 paise from its previous close of 66.39 on Wednesday. The currency touched a high and low of 66.45 and 66.3275 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.42 and for Euro stood at 72.60 on December 30, 2015. While, the RBI’s reference rate for the Yen stood at 55.17 the reference rate for the Great Britain Pound (GBP) stood at 98.5471. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| December 30, 2015 | 66.4243 | 98.5471 |
| December 29, 2015 | 66.37 | 98.9112 |
RBI-Reference Rate)
