Indian rupee strengthened marginally against dollar in early trade on Thursday after exporters and banks stepped up selling of the US currency amid sustained foreign fund inflows. Besides, higher opening in the domestic equity market too improved the rupee sentiment. Further dollar’s weakness against a few currencies overseas after the Federal Reserve left monetary policy unchanged and reiterated its cautious stance on future interest rate increases too supported domestic currency. On the global front, the yen jumped against the dollar and euro on Thursday after the Bank of Japan held monetary policy steady, quashing speculation that it would ramp up its already extensive easing program.
The partially convertible currency is currently trading at 66.44, little changed from its previous close of 66.45 on Wednesday. The currency touched a high and low of 66.5125 and 66.3775 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.54 and for Euro stood at 75.17 on April 27, 2016. While the RBI’s reference rate for the Yen stood at 59.85, the reference rate for the Great Britain Pound (GBP) stood at 96.9242. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| April 27, 2016 | 66.5460 | 96.9242 |
| April 26, 2016 | 66.7330 | 96.7695 |
(RBI-Reference Rate)
