Indian rupee weakened against the dollar in early deals on Thursday as the American currency strengthened overseas after the Federal Reserve upgraded its outlook on the US economy. Besides, month-end demand for the US currency from importers also weighed on the rupee. However, early gains in the stock markets, capped the rupee fall. On the global front, the dollar firmed to a near one-week high on Thursday ahead of US gross domestic product data that could reinforce or dent expectations that the Federal Reserve is on track to raise interest rates as early as September.
The partially convertible currency is currently trading at 63.99, weaker by 8 paise from its previous close of 63.91 on Wednesday. The currency touched a high and low of 63.99 and 63.85 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.89 and for Euro stood at 70.62 on July 29, 2015. While, the RBI’s reference rate for the Yen stood at 51.75, the reference rate for the Great Britain Pound (GBP) stood at 99.7134. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| July 29, 2015 | 63.8943 | 99.7134 |
| July 28, 2015 | 64.0270 | 99.7156 |
(RBI-Reference Rate)
