Indian rupee weakened against the dollar in morning trade on Monday on increased month-end demand for the American currency from importers and subdued trading in the domestic equity market. Rupee fell further as dollar firmed against some global currencies after the US Federal Reserve Chair Janet Yellen indicated that the interest rates could rise in coming months. Traders are also cautious ahead of the gross domestic product (GDP) data for the June quarter and fiscal deficit data for July on 31 August. On the global front, the dollar stood tall in Asian trading on Monday, after Federal Reserve Chair Janet Yellen's upbeat comments on the US economy and traders raised their bets on an interest rate increase.
The partially convertible currency is currently trading at 67.17, weaker by 11 paise from its previous close of 67.06 on Friday. The currency touched a high and low of 67.1850 and 67.1475 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.03 and for Euro stood at 75.73 on August 26, 2016. While the RBI’s reference rate for the Yen stood at 66.72, the reference rate for the Great Britain Pound (GBP) stood at 88.59. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| August 26, 2016 | 67.0299 | 88.5934 |
| August 25, 2016 | 67.0876 | 88.6563 |
