Indian rupee weakened against the US dollar in early trade on Tuesday due to sustained demand for the American currency from importers amid foreign fund outflows. Besides, a weak domestic equity market too weighed on the domestic unit. The domestic currency had declined in last session on uncertainty in the wake of RBI Governor Raghuram Rajan’s decision against pursuing a second stint. However, dollar’s weakness against major world currencies in the global market limited the rupee’s fall. On the global front, the British pound eased against the dollar on Tuesday, a day after posting its biggest daily gain in 7 years on the back of opinion polls that swung in favor of the campaign for Britain to stay in the European Union. Two opinion polls on Monday showed that the ‘Remain’ camp has recovered some ground in Britain's European Union referendum debate.
The partially convertible currency is currently trading at 67.48, weaker by 17 paise from its previous close of 67.31 on Monday. The currency touched a high and low of 67.48 and 67.3675 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.40 and for Euro stood at 76.53 on June 20, 2016. While the RBI’s reference rate for the Yen stood at 64.44, the reference rate for the Great Britain Pound (GBP) stood at 98.1538. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| June 20, 2016 | 67.4087 | 98.1538 |
| June 17, 2016 | 67.1682 | 95.5535 |
