Indian rupee weakened against dollar in early deals on Tuesday, on increased demand for the US currency from importers and dollar’s gains against other currencies overseas. Further, India’s exports contracted 13.6 percent in January, 14th month in a row, too added pressure on the rupee. However, a higher opening in the domestic equity market, capped the rupee’s losses. On the global front, the dollar stood tall against the yen and euro on Tuesday as a bounce in equities and crude oil prices tempered global risk aversion that battered the greenback last week.
The partially convertible currency is currently trading at 68.28, weaker by 22 paise from its previous close of 68.06 on Monday. The currency touched a high and low of 68.3325 and 68.1250 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.13 and for Euro stood at 76.50 on February 15, 2016. While the RBI’s reference rate for the Yen stood at 59.84, the reference rate for the Great Britain Pound (GBP) stood at 99.0067. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| February 15, 2016 | 68.1348 | 99.0067 |
| February 12, 2016 | 68.4365 | 98.9797 |
(RBI-Reference Rate)
