Indian rupee weakened against the US dollar on Wednesday on account of strong demand for the dollar from importers. Besides, weak domestic equity markets too weighed on the rupee. However, dollar’s weakness against other currencies overseas after a US presidential election poll showed Donald Trump ahead of market favourite Hillary Clinton ,capped some losses. On the global front, the dollar slumped on Wednesday as the US presidential election increasingly looked too close to call, jangling investors' nerves and fuelling demand for perceived havens such as the Japanese yen.
The partially convertible currency is currently trading at 66.84, weaker by 13 paise from its previous close of 66.71 on Tuesday. The currency touched a high and low of 66.8650 and 66.7925 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.71 and for Euro stood at 73.17 on November 01, 2016. While the RBI’s reference rate for the Yen stood at 63.68, the reference rate for the Great Britain Pound (GBP) stood at 81.55.The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| November 01, 2016 | 66.7140 | 81.5579 |
| October 28, 2016 | 66.8566 | 81.2976 |
(RBI-Reference Rate)
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