Indian rupee turned weak on Wednesday to its lowest level in nearly two years against the US dollar, tracking losses in Asian currencies and appreciation of the dollar overseas. Besides, increased demand for the greenback from importers after China devalued the yuan value against the dollar for a second consecutive day continued to put pressure on the rupee. Furthermore, a lower opening of the domestic equity market also weighed on rupee.
The partially convertible currency is currently trading at 64.79, weaker by 59 paise from its previous close of 64.20 on Tuesday. The currency touched a high and low of 64.855 and 64.55 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.17 and for Euro stood at 70.35 on August 11, 2015. While, the RBI’s reference rate for the Yen stood at 51.37, the reference rate for the Great Britain Pound (GBP) stood at 99.8471. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| August 11, 2015 | 64.1732 | 99.8471 |
| August 10, 2015 | 63.7590 | 98.7563 |
(RBI-Reference Rate)
