Indian rupee weakened against dollar in early deals on Friday on month-end demand for US currency from the importers and banks. The government unveiled the railway budget on Thursday and will table the Union budget on 29 February. Also, traders will keep an eye on the annual economic outlook survey later in the day. Traders will look for government policy direction in the announcements. However, higher opening in the domestic equity market, capped some losses. On the global front, the dollar edged down on Friday but was still on track for weekly gains against its major counterparts, as investors focused on the two-day Group of 20 nations' currency and economic talks that kicked off in Shanghai.
The partially convertible currency is currently trading at 68.77, weaker by 5 paise from its previous close of 68.72 on Thursday. The currency touched a high and low of 68.7850 and 68.6450 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.59 and for Euro stood at 75.67 on February 25, 2016. While the RBI’s reference rate for the Yen stood at 61.01, the reference rate for the Great Britain Pound (GBP) stood at 95.5721. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| February 25, 2016 | 68.5990 | 95.5721 |
| February 24, 2016 | 68.5650 | 95.8127 |
(RBI-Reference Rate)
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