Indian rupee weakened against the dollar on Friday on the back of diminishing demand as the appeal of the American currency grew with importers and banks. Further, dollar firmed up against some global currencies after better-than-forecast US ISM non-manufacturing data increased the probability of a US Federal Reserve rate hike this year, weighing on local unit. Also, traders are cautiously awaiting a key US employment report due for release later in the day. On the global front, Sterling recouped some of its losses after a precipitous plunge to a fresh 31-year low on Friday.
The partially convertible currency is currently trading at 66.79, weaker by 10 paise from its previous close of 66.69 on Thursday. The currency touched a high and low of 66.8675 and 66.7250 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.63 and for Euro stood at 74.58 on October 6, 2016. While the RBI’s reference rate for the Yen stood at 64.34, the reference rate for the Great Britain Pound (GBP) stood at 84.67.The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| October 06, 2016 | 66.6322 | 84.6695 |
| October 05, 2016 | 66.5699 | 84.4772 |
