Indian rupee weakened against dollar in early deals on Wednesday, due to continued demand for the US dollar from importers and banks and a lower opening in the domestic equity market. Besides, recovery in US dollar against the basket of major currencies also weighed on the emerging market currencies. Some traders remained on sidelines as Indian markets are closed on 24 March on account of Holi festival and on 25 March for Good Friday. On the global front, the dollar steadied on Wednesday, underpinned by hawkish comments from US Federal Reserve officials as Asian investors reacted to overnight news of attacks in Brussels. Attacks on Brussels airport and a rush-hour metro train in the Belgian capital, which occurred late in Tuesday's Asian session, killed dozens and triggered security alerts across Western Europe.
The partially convertible currency is currently trading at 66.88, weaker by 16 paise from its previous close of 66.72 on Tuesday. The currency touched a high and low of 66.8850 and 66.7375 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.54 and for Euro stood at 74.89 on March 22, 2016. While the RBI’s reference rate for the Yen stood at 59.37, the reference rate for the Great Britain Pound (GBP) stood at 95.7526. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| March 22, 2016 | 66.5411 | 95.7526 |
| March 21, 2016 | 66.5040 | 95.8722 |
