Indian rupee strengthened against dollar in early trades on Tuesday, on fresh selling of the American currency by exporters and banks. Besides, a higher opening in domestic stock markets supported the rupee but dollar’s strength against other currencies overseas capped the gains. Rupee improved amid positive cues from Asian currencies. Most Asian currencies rose following a slew of economic data releases in China. Data showed Chinese GDP fell to an annual rate of 6.8 percent in the December quarter from 6.9 percent in the September quarter, but was broadly in line with expectations. December industrial production of the country came in at 5.9 percent, which was less than 6.2 percent recorded in November.
The partially convertible currency is currently trading at 67.58, stronger by 10 paise from its previous close of 67.68 on Monday. The currency touched a high and low of 67.7350 and 67.5650 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.58 and for Euro stood at 73.61 on January 18, 2016. While the RBI’s reference rate for the Yen stood at 57.68, the reference rate for the Great Britain Pound (GBP) stood at 96.4819. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| January 18, 2016 | 67.5880 | 96.4819 |
| January 15, 2016 | 67.4325 | 97.1095 |
(RBI-Reference Rate)
