Indian rupee was trading almost flat against US dollar after a positive start on Friday, on account of sustained foreign fund outflows coupled with buying of American currency by banks and importers. Meanwhile, weak opening of domestic equity markets affected market sentiments. The traders are cautious ahead of the Reserve Bank of India’s bi-monthly policy on 7th December and are looking ahead of the Italian referendum scheduled for Sunday and mid-December US Federal Reserve policy. On the global front, the dollar eased from a 9-1/2 month high against the yen on Friday, with investors cautious ahead of a looming US jobs report that could set the market's tone in coming days.
The partially convertible currency is currently trading almost flat from its previous close of 68.34 on Thursday. The currency touched a high and low of 68.3850 and 68.2850 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.37 and for Euro stood at 72.62 on December 1, 2016. While the RBI’s reference rate for the Yen stood at 60.01, the reference rate for the Great Britain Pound (GBP) stood at 85.69.The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| December 01, 2016 | 68.3734 | 85.6992 |
| November 30, 2016 | 68.5260 | 85.5342 |
