Indian rupee weakened against the US dollar in early deals on Tuesday, tracking the losses in global markets. Traders are cautious ahead of the start of US Federal Reserve’s two-day policy meeting. Further, sustained demand for the American currency from banks and importers, too weighed on domestic currency. On the global front, the yen rose against other major currencies on Tuesday, pulling up from multi-week troughs against the dollar and euro but capped by wariness ahead of this week's Bank of Japan policy review that will come on the heels of the Federal Reserve's meeting.
The partially convertible currency is currently trading at 66.75, weaker by 13 paise from its previous close of 66.62 on Monday. The currency touched a high and low of 66.8450 and 66.70 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.68 and for Euro stood at 74.95 on April 25, 2016. While the RBI’s reference rate for the Yen stood at 59.99, the reference rate for the Great Britain Pound (GBP) stood at 96.3249. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| April 25, 2016 | 66.6839 | 96.3249 |
| April 22, 2016 | 66.4925 | 95.4433 |
(RBI-Reference Rate)
