Indian rupee weakened against the dollar on Wednesday on account of increased month-end demand for the US currency from importers amid sustained foreign fund outflows. Further, fall in the Asian peers also dampened the domestic currency. However, a weakness in the US dollar against some currencies in the global market and a higher opening of the domestic equity market restricted the fall. On the global front, the dollar inched up against the yen on Wednesday after upbeat US economic data reinforced expectations for economic growth under Donald Trump's Administration and more rate hikes by US Federal Reserve next year.
The partially convertible currency is currently trading at 68.23, weaker by 17 paise from its previous close of 68.06 on Tuesday. The currency touched a high and low of 68.2325 and 68.1050 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.99 and for Euro stood at 71.04 on December 27, 2016. While the RBI’s reference rate for the Yen stood at 57.97, the reference rate for the Great Britain Pound (GBP) stood at 83.49.The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| December 27, 2016 | 67.9967 | 83.4999 |
| December 26, 2016 | 67.8331 | 83.3126 |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: