Indian rupee weakened against the dollar on Friday on account of buying of American currency by banks and importers. Rupee fell further, tracking the losses in the Asian currency markets. Though, a higher opening in the domestic equity market following mixed global cues capped the fall. The forex market remained closed on Thursday for the Republic Day. On the global front, the dollar perked up, rebounding from a seven-week low on optimism over the US economic outlook and corporate earnings, while the Mexican peso fell after the White House floated the idea of a 20 percent tax on Mexican goods to pay for a border wall.
The partially convertible currency is currently trading at 68.20, weaker by 13 paise from its previous close of 68.07 on Wednesday. The currency touched a high and low of 68.2325 and 68.1625 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.15 and for Euro stood at 73.09 on January 25, 2017. While the RBI’s reference rate for the Yen stood at 59.98, the reference rate for the Great Britain Pound (GBP) stood at 85.31. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| January 25, 2017 | 68.1556 | 85.3104 |
| January 24, 2017 | 68.1570 | 85.1485 |
