Indian rupee weakened against dollar in early deals, snapping its six-days winning streak, on Tuesday on fresh demand for the American currency from importers and banks. A firm dollar against some global currencies overseas too weighed on the rupee, but gains at the domestic equity market capped the losses. The forex market was closed on Monday on account of ‘Mahashivratri’. On the global front, the perennial safe-haven yen logged solid gains against the dollar and euro in Asian trade on Tuesday as risk appetites waned, and downbeat Chinese trade data fuelled concerns about the state of global demand.
The partially convertible currency is currently trading at 67.31, weaker by 22 paise from its previous close of 67.09 on Friday. The currency touched a high and low of 67.3250 and 67.21 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.27 and for Euro stood at 73.66 on March 04, 2016. While the RBI’s reference rate for the Yen stood at 59.10, the reference rate for the Great Britain Pound (GBP) stood at 95.2158. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| March 04, 2016 | 67.2713 | 95.2158 |
| March 03, 2016 | 67.3786 | 94.8960 |
