Indian rupee strengthened marginally against the US currency in early deals on Thursday due to higher opening in the domestic equity market. However, sustained demand for the dollar from importers and dollar’s strength against other currencies overseas, continued putting pressure. On the global front, the yen showed signs of fatigue early on Thursday having taken a step back from recent peaks, while the greenback firmed broadly on some optimism the US economy would bounce back after nearly stalling in the first quarter.
The partially convertible currency is currently trading at 66.51, stronger by 4 paise from its previous close of 66.55 on Wednesday. The currency touched a high and low of 66.6150 and 66.4950 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.5388 and for Euro stood at 76.4597 on May 04, 2016. While the RBI’s reference rate for the Yen stood at 62.21, the reference rate for the Great Britain Pound (GBP) stood at 96.8273. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| May 04, 2016 | 66.5388 | 96.8273 |
| May 03, 2016 | 66.2698 | 97.5889 |
