Indian rupee strengthened against dollar in early deals on Monday on increased selling of the American currency by exporters and banks. Besides, a higher opening in the domestic equity markets and dollar's weakness against some currencies overseas too fuelled the uptrend. On the global front, the yen nursed broad losses on Monday and the euro struggled for traction after the Bank of Japan adopted negative interest rates, heightening expectations that the European Central bank will ease policy too making European bond yields slide.
The partially convertible currency is currently trading at 67.67, stronger by 12 paise from its previous close of 67.79 on Friday. The currency touched a high and low of 67.62 and 67.79 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.87 and for Euro stood at 74.06 on January 28, 2016. While the RBI’s reference rate for the Yen stood at 56.26, the reference rate for the Great Britain Pound (GBP) stood at 97.7554. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| January 29, 2016 | 67.8763 | 97.7554 |
| January 28, 2016 | 68.0858 | 97.0155 |
(RBI-Reference Rate)
