Indian rupee strengthened against US dollar in early trade on Tuesday on selling of the American currency by exporters amid foreign fund inflows. Further, weakness in dollar against some other currencies overseas and a higher opening in the domestic equity market too supported the rupee. On the global front, the US dollar fell below 106.00 yen for the first time in about 18 months on Tuesday, as the yen surged against the Australian dollar after Australia's central bank cut interest rates to a record low of 1.75 percent.
The partially convertible currency is currently trading at 66.34, stronger by 10 paise from its previous close of 66.44 on Monday. The currency touched a high and low of 66.36 and 66.27 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.34 and for Euro stood at 76.05 on May 02, 2016. While the RBI’s reference rate for the Yen stood at 62.31, the reference rate for the Great Britain Pound (GBP) stood at 97.0207. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| May 02, 2016 | 66.3435 | 97.0207 |
| April 29, 2016 | 66.5176 | 97.4017 |
(RBI-Reference Rate)
