Indian rupee weakened against the US dollar on Thursday due to increased demand for the American currency from importers and banks. Further, firming dollar against other currencies overseas too weighed on the rupee. But, a higher opening in the domestic equity market following firm global cues after data showed US services sector activity rebounded to an 11-month high in September, capped the losses. On the global front, the dollar stuck to narrow ranges against its major rivals in Asian trade, ahead of this week's nonfarm payrolls report that could reinforce expectations that the US Federal Reserve will hike interest rates by December.
The partially convertible currency is currently trading at 66.61, weaker by 10 paise from its previous close of 66.51 on Wednesday. The currency touched a high and low of 66.6425 and 66.56 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.57 and for Euro stood at 74.65 on October 5, 2016. While the RBI’s reference rate for the Yen stood at 64.70, the reference rate for the Great Britain Pound (GBP) stood at 84.48.The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| October 05, 2016 | 66.5699 | 84.4772 |
| October 04, 2016 | 66.5559 | 85.3180 |
