Indian rupee strengthened against dollar in early deals on Monday on increased selling of the US currency by banks and exporters. Further, a higher opening in the domestic equity market amid hopes of pick-up in foreign capital inflows and a weakening dollar against other currencies overseas added to the rupee’s gains. The strength in the Asian currencies also helped the currency. On the global front, the Australian dollar got off to a rocky start on Monday on heightened political uncertainty at home, while diminishing global anxiety over Brexit put sterling and the other major currencies on a steadier footing.
The partially convertible currency is currently trading at 67.20, stronger by 12 paise from its previous close of 67.32 on Friday. The currency touched a high and low of 67.24 and 67.1575 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.44 and for Euro stood at 74.74 on July 01, 2016. While the RBI’s reference rate for the Yen stood at 65.67, the reference rate for the Great Britain Pound (GBP) stood at 89.5482. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| July 01, 2016 | 67.4410 | 89.5482 |
| June 30, 2016 | 67.6166 | 90.5183 |
