Indian rupee strengthened marginally against dollar in early deals on Thursday on sustained selling of the American currency by banks and exporters. Moreover, dollar’s weakness against other currencies overseas on expectations that the US Federal Reserve will keep benchmark interest rates low for longer, also supported the rupee at the Interbank Foreign Exchange market. However, a lower opening in the domestic equity market on caution ahead of industrial production data for April, which is due tomorrow, capped the rupee’s gains.
The partially convertible currency is currently trading at 66.64, little changed from its previous close of 66.65 on Wednesday. The currency touched a high and low of 66.6775 and 66.5525 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.73 and for Euro stood at 75.81 on June 08, 2016. While the RBI’s reference rate for the Yen stood at 62.26, the reference rate for the Great Britain Pound (GBP) stood at 97.0823. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| June 08, 2016 | 66.7370 | 97.0823 |
| June 07, 2016 | 66.8305 | 96.9376 |
(RBI-Reference Rate)
