Indian rupee weakened further against the US dollar on Thursday amid sustained foreign fund outflows and on the dollar’s surge in overseas markets following an imminent hike in Fed's interest rates. Further, a lower opening of the domestic equity market also put pressure on the rupee. Meanwhile, the Reserve Bank of India was spotted intervening in the foreign exchange market after the rupee fell to as low as 68.8350 per dollar on today, on the verge of surpassing its previous record low of 68.85 in August 2013. On the global front, the dollar firmed in Asian trading after data suggesting a pickup in US economic growth early in the fourth quarter increased chances of the Federal Reserve raising interest rates.
The partially convertible currency is currently trading at 68.68, weaker by 12 paise from its previous close of 68.56 on Wednesday. The currency touched a high and low of 68.8375 and 68.6250 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.47 and for Euro stood at 72.78 on November 23, 2016. While the RBI’s reference rate for the Yen stood at 61.71, the reference rate for the Great Britain Pound (GBP) stood at 84.96.The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| November 23, 2016 | 68.4772 | 84.9665 |
| November 22, 2016 | 68.2317 | 85.1668 |
