Indian rupee strengthened against dollar in early deals on Thursday in line with the positive trend in other Asian currencies, sustained selling of the US currency by exporters and banks, and a strong domestic equity market. Apart from fresh inflows from foreign funds, dollar’s weakness against some other currencies overseas added momentum to the rupee. Further, optimism that the government’s move to implement the wage hike for its employees this year would stoke demand and help growth also lifted the rupee. On the global front, the dollar took a breather in Asia on Thursday but remained near a 3-1/2-month high against a basket of currencies hit in the wake of Britain's stunning vote to exit from the European Union, while the battered sterling continued to struggle.
The partially convertible currency is currently trading at 67.62, stronger by 6 paise from its previous close of 67.68 on Wednesday. The currency touched a high and low of 67.62 and 67.5350 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.74 and for Euro stood at 75.02 on June 29, 2016. While the RBI’s reference rate for the Yen stood at 66.21, the reference rate for the Great Britain Pound (GBP) stood at 90.4928. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| June 29, 2016 | 67.7443 | 90.4928 |
| June 28, 2016 | 67.8867 | 90.1739 |
