Indian rupee strengthened against dollar on Tuesday on account of selling of American currency by banks and exporters. Further, domestic equity markets opened in the green following firm global cues that too supported the rupee’s rebound. However, overall market sentiments are looking cautious, ahead of the Reserve Bank of India's (RBI) monetary policy review on Wednesday. On the global front, the euro steadied on Tuesday, having bounced back from a near 21-month low set the previous day after Italian Prime Minister Matteo Renzi's loss in a referendum over constitutional reform, an outcome that traders had widely expected.
The partially convertible currency is currently trading at 68.05, stronger by 16 paise from its previous close of 68.21 on Monday. The currency touched a high and low of 68.12 and 68.02 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.17 and for Euro stood at 72.04 on December 5, 2016. While the RBI’s reference rate for the Yen stood at 60.11, the reference rate for the Great Britain Pound (GBP) stood at 86.53.The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| December 05, 2016 | 68.1703 | 86.5354 |
| December 02, 2016 | 68.3689 | 86.2816 |
(RBI-Reference Rate)
