Indian rupee weakened against the US dollar in first half on Friday, following the weak movement in domestic equity markets despite the IT major TCS reporting better-than-expected Q1 results. But, the rupee had opened with marginal gains, tracking the gains in the Asian currencies markets. Most of the Asian currencies were trading higher after Bank of England hinted at looser monetary policy next month. The United Kingdom’s central bank kept interest rates unchanged, while market consensus was for a 25 basis point rate cut to 0.25%, which would’ve been the bank’s first move since 2009. On the global front, the yen fell broadly and hit a three-week low versus the dollar after China's second-quarter gross domestic product and June activity data pointed to stabilization in China's economy and bolstered risk sentiment.
The partially convertible currency is currently trading at 67.08, weaker by 17 paise from its previous close of 66.91 on Thursday. The currency touched a high and low of 67.09 and 66.85 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.91and for Euro stood at 74.35 on July 14, 2016. While the RBI’s reference rate for the Yen stood at 63.38, the reference rate for the Great Britain Pound (GBP) stood at 88.5468.The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| July 14, 2016 | 66.9136 | 88.5468 |
| July 13, 2016 | 67.2046 | 89.2880 |
