Indian rupee weakened against the dollar on Friday on increased demand for the American currency from importers. Besides, the US dollar’s gains against some currencies overseas and a weak domestic equity market also weighed on domestic unit. Further, fall in Asian currencies also dampened sentiment. On the global front, the dollar stood tall in Asian trading, on track for a weekly gain against a basket of currencies, as the euro wallowed at seven-month lows after the European Central Bank doused speculation that it would taper its stimulus.
The partially convertible currency is currently trading at 66.88, weaker by 7 paise from its previous close of 66.81 on Thursday. The currency touched a high and low of 66.9450 and 66.84 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.74 and for Euro stood at 73.14 on October 20, 2016. While the RBI’s reference rate for the Yen stood at 64.35, the reference rate for the Great Britain Pound (GBP) stood at 81.91.The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| October 20, 2016 | 66.7411 | 81.9114 |
| October 19, 2016 | 66.7145 | 81.7853 |
Start Research-backed Investing ...Now. Subscribe to Sapphire
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: