Indian rupee strengthened against the US dollar in early trade on Monday on increased selling of the American currency by exporters amid foreign fund inflows. Further, dollar’s weakness against other currencies overseas after last week’s disappointing US jobs data reduced the chances of an interest rate hike and a firm domestic equity market supported the rupee. Friday's data in US showed nonfarm payrolls increased by only 38,000 jobs last month - the fewest in more than 5-1/2-years - confounding forecasts for a rise of 164,000 jobs.
The partially convertible currency is currently trading at 66.93, stronger by 33 paise from its previous close of 67.26 on Friday. The currency touched a high and low of 66.9975 and 66.8650 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.24 and for Euro stood at 74.99 on June 3, 2016. While the RBI’s reference rate for the Yen stood at 61.83, the reference rate for the Great Britain Pound (GBP) stood at 96.9017. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| June 03, 2016 | 67.2415 | 96.9017 |
| June 02, 2016 | 67.2533 | 97.0465 |
(RBI-Reference Rate)
