Indian rupee was trading weak against dollar on Wednesday on fresh dollar demand from banks and oil importers in view of its strength of dollar index against the basket of other major currencies. Sentiments also took a knock after HSBC Services Purchasing Managers' Index, compiled by Markit, fell to a three-month low of 52.4 in April from March's 53.0. Additionally, negative local equities also added to the pessimistic milieu. On the global front, dollar skidded from three-week highs against the yen and one-week peaks against the euro as a mixed batch of U.S. economic data added to uncertainty about the pace of future interest rate increases.
The partially convertible currency is currently trading at 63.58, weaker by 15 paise from its previous close of 63.43 on Tuesday. The currency touched a high and low of 63.65 and 63.30 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.51 and for Euro stood at 70.53 on May 5, 2015. While, the RBI’s reference rate for the Yen stood at 52.86, the reference rate for the Great Britain Pound (GBP) stood at 95.9588. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| May 5, 2015 | 63.51 | 95.9588 |
| April 30, 2015 | 63.57 | 97.9864 |
(RBI-Reference Rate)
