Indian rupee weakened against the US dollar on Monday despite fresh selling of the American currency by exporters and banks amidst higher opening in the domestic equity market, as the equity markets witnessed sharp trend reversal on FII selling. On the global front, the dollar nudged up to a six-month high in early Asian trading on Monday, as investors continued to back bets that the administration of President-elect Donald Trump would embark on expansionary fiscal policies and boost growth.
The partially convertible currency is currently trading at 68.2250, weaker by 11 paise from its previous close of 68.12 on Friday. The currency touched a high and low of 68.2350 and 68.0900 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.09 and for Euro stood at 72.21 on November 18, 2016. While the RBI’s reference rate for the Yen stood at 61.56, the reference rate for the Great Britain Pound (GBP) stood at 84.41.The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| November 18, 2016 | 68.0937 | 84.4158 |
| November 17, 2016 | 67.9106 | 84.3178 |
