Indian rupee weakened against dollar in early deals on Monday on increased demand for the US currency from importers and dollar's gains against other currencies overseas. Rupee weakened further as Asian currencies remained directionless after data showed the Chinese CPI reading inched up to 1.6 percent in December from 1.5 percent in the previous month. On the global front, the safe haven yen eased against the dollar after China's central bank set a stronger guidance rate for the Yuan on Monday, soothing fears that Beijing is trying to weaken its currency to gain a competitive export advantage.
The partially convertible currency is currently trading at 66.79, weaker by 15 paise from its previous close of 66.64 on Friday. The currency touched a high and low of 66.92 and 66.78 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.66 and for Euro stood at 72.52 on January 08, 2016. While, the RBI’s reference rate for the Yen stood at 56.32 the reference rate for the Great Britain Pound (GBP) stood at 97.4501. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| January 08, 2016 | 66.6690 | 97.4501 |
| January 07, 2016 | 66.9115 | 97.8514 |
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