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Rupee weakens against US dollar in early deals on Monday

18 Jul 2016 Evaluate

Indian rupee weakened against US dollar in early deals on Monday on increased demand for the American currency from importers and banks. However, dollar’s weakness against some currencies overseas and a higher opening in domestic equity market restricted the fall. On the global front, the Turkish lira rose against the dollar and the safe-haven yen fell broadly on Monday after Turkish authorities thwarted a coup attempt over the weekend, easing investor concerns about political uncertainty and geopolitical risks.

The partially convertible currency is currently trading at 67.10, weaker by 4 paise from its previous close of 67.06 on Friday. The currency touched a high and low of 67.1850 and 67.0950 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.06 and for Euro stood at 74.60 on July 15, 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 89.9281. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
July 15, 201667.065589.9281
July 14, 201666.913688.5468
(RBI-Reference Rate)

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