Indian rupee weakened marginally against the dollar in morning trade on Tuesday on fresh demand for the American currency from importers. Besides, strength in dollar against some other currencies overseas also weighed on the rupee, but a higher opening in the domestic equity market capped the losses. On the global front, the dollar hovered near three-week lows on Tuesday after soft US economic data undermined the case for an early Federal Reserve rate hike while the Australian dollar braced for the probability of a policy easing later in the day. Weaker-than-expected manufacturing data released on Monday continued to hold the greenback down.
The partially convertible currency is currently trading at 66.76, little changed from its previous close of 66.75 on Monday. The currency touched a high and low of 66.7825 and 66.7350 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.74and for Euro stood at 74.52 on August 1, 2016. While the RBI’s reference rate for the Yen stood at 65.08, the reference rate for the Great Britain Pound (GBP) stood at 88.44.The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| August 1, 2016 | 66.7412 | 88.4388 |
| July 29, 2016 | 67.0340 | 88.2972 |
