Indian rupee weakened against the US dollar on Monday on account of sustained demand for the American unit from importers and banks. Rupee fell further on the dollar’s strength against other currencies overseas, but a firm domestic equity market kept restricting some losses. On the global front, the dollar edged up to a fresh eight-month high against a basket of currencies in Asian trade on Monday, buoyed by expectations that the US Federal Reserve will raise interest rates this year.
The partially convertible currency is currently trading at 66.89, little changed from its previous close of 66.88 on Friday. The currency touched a high and low of 66.9250 and 66.87 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.89 and for Euro stood at 72.97 on October 21, 2016. While the RBI’s reference rate for the Yen stood at 64.40, the reference rate for the Great Britain Pound (GBP) stood at 81.95. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| October 21, 2016 | 66.8943 | 81.9589 |
| October 20, 2016 | 66.7411 | 81.9114 |
