Indian rupee strengthened against dollar in early deals on Monday on increased selling of the US currency by exporters and banks amid a higher opening in the domestic equity market. Further, weakness in the dollar against some other currencies overseas supported the rupee. People's Bank of China (PBOC) fixed its yuan at the highest rate against the American currency in over a month as it continued efforts to stem speculation of an imminent devaluation. On the global front, the dollar rose against the yen on Monday as Japan's leader criticized excessively volatile currency markets, and most regional equity markets gained, curbing demand for safe-haven yen.
The partially convertible currency is currently trading at 68.09, stronger by 15 paise from its previous close of 68.24 on Friday. The currency touched a high and low of 68.16 and 68.06 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.43 and for Euro stood at 77.36 on February 12, 2016. While the RBI’s reference rate for the Yen stood at 60.94, the reference rate for the Great Britain Pound (GBP) stood at 98.9797. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| February 12, 2016 | 68.4365 | 98.9797 |
| February 11, 2016 | 68.0155 | 98.8061 |
(RBI-Reference Rate)
