Indian rupee weakened against the American currency on Thursday after the dollar gained strength overseas. Further, increased demand for the US currency from importers too put pressure on the rupee. However, a higher opening in the domestic equity markets after the Lok Sabha approved four legislations to give shape to the historic GST, capped the rupee’s losses. On the global front, the dollar edged up to a nine-day high against a basket of currencies on Thursday, with the euro sagging as the European Central Bank showed no sign of stepping away from monetary easing anytime soon.
The partially convertible currency is currently trading at 64.94, weaker by 3 paise from its previous close of 64.91 on Wednesday. The currency touched a high and low of 64.9925 and 64.8825 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.95 and for Euro stood at 70.10 on March 29, 2017. While the RBI’s reference rate for the Yen stood at 58.41, the reference rate for the Great Britain Pound (GBP) stood at 80.47.The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| March 29, 2017 | 64.9552 | 80.4795 |
| March 27, 2017 | 65.0892 | 81.6479 |
