Indian rupee weakened on Tuesday due to appreciation of the US dollar. Besides, increased demand for the US currency from importers too weighed on the domestic currency. However, a higher opening in the domestic equity market capped the losses. On the global front, the dollar was on the defensive in Asian trading on Tuesday, after Chicago Federal Reserve President Charles Evans reinforced the perception that the US central bank won't accelerate the pace of its interest rate hikes.
The partially convertible currency is currently trading at 65.40, weaker by 4 paise from its previous close of 65.36 on Monday. The currency touched a high and low of 65.45 and 65.3775 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 65.38 and for Euro stood at 70.37 on March 20, 2017. While the RBI’s reference rate for the Yen stood at 58.06, the reference rate for the Great Britain Pound (GBP) stood at 81.01. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| March 20, 2017 | 65.3827 | 81.0157 |
| March 17, 2017 | 65.5411 | 80.9957 |
