Indian rupee weakened against the US dollar in early trade on Monday amid lack of cues from Asian currency markets as most were shut for the day on account of Labour Day holiday. Rupee weakened further on increased demand for the American currency from importers and banks. Furthermore, firm dollar against some global currencies overseas and a lower opening of the domestic equity market also weighed on the rupee. On the global front, the yen touched a fresh 18-month high against the greenback early on Monday after its biggest weekly gain in over seven years as traders bet that Tokyo policymakers have limited capacity to stem the yen's gains.
The partially convertible currency is currently trading at 66.38, weaker by 5 paise from its previous close of 66.33 on Friday. The currency touched a high and low of 66.4150 and 66.31 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.51 and for Euro stood at 75.73 on April 29, 2016. While the RBI’s reference rate for the Yen stood at 61.96, the reference rate for the Great Britain Pound (GBP) stood at 97.4017. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| April 29, 2016 | 66.5176 | 97.4017 |
| April 28, 2016 | 66.4045 | 96.8310 |
