Indian rupee strengthened against the US dollar in early trade on Friday on sustained selling of the American currency by banks and exporters. Besides, a higher opening in the domestic equity market too supported domestic currency. Meanwhile, investors are awaiting the closely watched US monthly jobs report for the month of May to be released later in the day, which could indicate whether the Federal Reserve will raise interest rates later this month. However, the dollar’s strength against other currencies overseas capped the rupee’s gain. On the global front, the euro wallowed near a three-year low against the yen on Friday, after investors were underwhelmed by the European Central Bank's decision to refrain from making any material changes to its policy mix.
The partially convertible currency is currently trading at 67.25, stronger by 4 paise from its previous close of 67.29 on Thursday. The currency touched a high and low of 67.2675 and 67.1525 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.25 and for Euro stood at 75.30 on June 2, 2016. While the RBI’s reference rate for the Yen stood at 61.58, the reference rate for the Great Britain Pound (GBP) stood at 97.0465. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| June 02, 2016 | 67.2533 | 97.0465 |
| June 01, 2016 | 67.3526 | 97.5333 |
