Indian rupee weakened to the lowest against dollar in two weeks on Tuesday due to a rise in the greenback against other currencies overseas after China's central bank allowed its domestic currency yuan to depreciate almost 2 percent against the greenback to levels last seen three years ago, which pushed up demand from importers for the US currency. However, a higher opening in domestic equity market capped losses to some extent. Meanwhile, investors were keenly awaiting monthly retail sales data in the US scheduled for Thursday. A slew of recent upbeat economic data releases in the US have raised hopes that the US Federal Reserve is on track to raise interest rates in its September policy review.
The partially convertible currency is currently trading at 64.13, weaker by 27 paise from its previous close of 63.86 on Monday. The currency touched a high and low of 64.20 and 64.0975 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.75 and for Euro stood at 69.87 on August 10, 2015. While, the RBI’s reference rate for the Yen stood at 51.22, the reference rate for the Great Britain Pound (GBP) stood at 98.7563. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| August 10, 2015 | 63.7590 | 98.7563 |
| August 07, 2015 | 63.8061 | 99.9250 |
(RBI-Reference Rate)
