Indian rupee weakened against the US dollar in early trade on Thursday, followed by a weak opening of the domestic equity market. However, increased selling of the American currency by exporters and dollar’s weakness against other currencies overseas after the US Federal Reserve lowered its economic growth forecasts and scaled back its rate hike projections, restricted the losses. On the global front, the dollar hit a 21-month low against the yen on Thursday as the yen surged broadly after the Bank of Japan held off from expanding its monetary stimulus.
The partially convertible currency is currently trading at 67.26, weaker by 11 paise from its previous close of 67.15 on Wednesday. The currency touched a high and low of 67.26 and 67.13 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.15 and for Euro stood at 75.28 on June 15, 2016. While the RBI’s reference rate for the Yen stood at 63.19, the reference rate for the Great Britain Pound (GBP) stood at 95.1114. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| June 15, 2016 | 67.1596 | 95.1114 |
| June 14, 2016 | 67.1520 | 95.1007 |
