Indian rupee weakened against the dollar on Friday on increased demand for the US currency from importers. Besides, the dollars strengthened against a basket of major currencies and a lower opening of equities also added pressure on the domestic unit. On the global front, the dollar was broadly steady on Friday and remained on track for solid weekly gains on growing expectations the US Federal Reserve could raise interest rates as early as at its meeting this month, triggering a rise in US Treasury yields.
The partially convertible currency is currently trading at 66.86, weaker by 15 paise from its previous close of 66.71 on Thursday. The currency touched a high and low of 66.8850 and 66.8275 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.74 and for Euro stood at 70.30 on March 2, 2017. While the RBI’s reference rate for the Yen stood at 58.50, the reference rate for the Great Britain Pound (GBP) stood at 81.98. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| March 02, 2017 | 66.7433 | 81.9875 |
| March 01, 2017 | 66.8482 | 82.7180 |
(RBI-Reference Rate)
