Indian rupee weakened against the American currency on Wednesday as the dollar gained strength against other currencies overseas. Besides, increased demand for the US currency from importers too added pressure on the rupee. However, a firm domestic equity market capped the rupee's losses. On the global front, the dollar edged higher against a basket of major currencies ahead of a news conference by US President-elect Donald Trump in which he is expected to spell out more about his plans for the economy.
The partially convertible currency is currently trading at 68.22, weaker by 4 paise from its previous close of 68.18 on Tuesday. The currency touched a high and low of 68.2750 and 68.2000 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.06 and for Euro stood at 72.18 on January 10, 2017. While the RBI’s reference rate for the Yen stood at 58.88, the reference rate for the Great Britain Pound (GBP) stood at 82.69.The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| January 10, 2017 | 68.0641 | 82.6979 |
| January 09, 2017 | 68.1863 | 83.1259 |
(RBI-Reference Rate)
