Indian rupee strengthened against dollar in early deals on Tuesday as local equity and Asian currencies markets are trading higher after a rebound in China stocks post the sharp sell-off in the previous session. Further, fresh selling of the American unit by exporters and banks supported the domestic currency but dollar's strength against other currencies overseas, capped the rupee's gain. All eyes are now on the minutes of US Fed Reserve's December 16-17 meeting to be released on Wednesday. The FOMC will have its next two-day policy meeting in Washington on January 26-27. On the global front, the yen stood tall against the dollar and euro on Tuesday as a continuing selloff in global equities suppressed investor appetite for risk and kept the safe-haven yen in demand.
The partially convertible currency is currently trading at 66.51, stronger by 11 paise from its previous close of 66.62 on Monday. The currency touched a high and low of 66.5175 and 66.4225 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.46 and for Euro stood at 72.39 on January 04, 2016. While, the RBI’s reference rate for the Yen stood at 55.65 the reference rate for the Great Britain Pound (GBP) stood at 97.9455. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| January 04, 2016 | 66.4623 | 97.9455 |
| January 01, 2016 | 66.1780 | 97.6059 |
(RBI-Reference Rate)
