Indian rupee weakened against the US dollar on Tuesday as US rate hike fears come back to haunt participants. Fed officials’ highly hawkish comments mainly soured the sentiment. Further, dollar's strength against other currencies overseas and its increased demand from importers too put pressure on the rupee. However, a firm domestic stock market limited the rupee's losses.
The partially convertible currency is currently trading at 64.59, weaker by 3 paise from its previous close of 64.56 on Monday. The currency touched a high and low of 64.69 and 64.5750 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.44 and for Euro stood at 68.25 on April 10, 2017. While the RBI’s reference rate for the Yen stood at 57.87, the reference rate for the Great Britain Pound (GBP) stood at 79.85. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| April 10, 2017 | 64.4418 | 79.8563 |
| April 07, 2017 | 64.3928 | 80.2592 |
(RBI-Reference Rate)
