Indian rupee weakened against dollar in early deals on Friday, on account of renewed demand for the American currency from importers and banks and a lower opening in the domestic equity market. Besides, fears of a currency war after China's depreciation of its yuan and sustained capital outflows by foreign funds too weighed on the local currency. Rupee depreciated even as the dollar weakened against other major global currencies overseas amid mounting global economic slowdown worries. On the global front, the dollar withered near six-week lows on Friday, reflecting doubts whether the Federal Reserve will be able to safely raise interest rates next month as once expected, given accumulating signs of stress in many parts of the global economy.
The partially convertible currency is currently trading at 65.84, weaker by 29 paise from its previous close of 65.55 on Thursday. The currency touched a high and low of 65.89 and 65.69 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 65.23 and for Euro stood at 72.57 on August 20, 2015. While, the RBI’s reference rate for the Yen stood at 52.59, the reference rate for the Great Britain Pound (GBP) stood at 102.2092. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| August 20, 2015 | 65.2385 | 102.2092 |
| August 19, 2015 | 65.2525 | 102.2507 |
(RBI-Reference Rate)
