Indian rupee was trading flat and pared its initial losses against the US currency on Tuesday on bouts of month-end dollar demand from banks and importers amid lower dollar overseas. However, traders are cautious as the Constitution amendment bill to amend goods and services tax (GST) is likely to be listed this week, after finance minister Arun Jaitley meets state finance ministers on Tuesday. On the global front, the dollar slipped ahead of the US Federal Reserve's two-day policy meeting that begins later on Tuesday, while the yen gained despite expectations that the Bank of Japan will ease later this week as investors grow increasingly skeptical about the impact of further stimulus.
The partially convertible currency is currently trading flat from its previous close of 67.35 on Monday. The currency touched a high and low of 67.42 and 67.3350 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.24 and for Euro stood at 73.80 on July 25, 2016. While, the RBI’s reference rate for the Yen stood at 63.37, the reference rate for the Great Britain Pound (GBP) stood at 88.35. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| July 25, 2016 | 67.2430 | 88.3506 |
| July 22, 2016 | 67.1355 | 88.9478 |
