Indian rupee weakened against the US dollar on Tuesday on account of fresh demand for the American currency from banks and importers. Further, capital outflows, in small lots, also weighed on the rupee, but rally in domestic equities restricted the fall to some extent. On the global front, the dollar pulled away from five-month lows versus the yen on Tuesday, with comments from US Treasury Secretary Steven Mnuchin and higher debt yields giving the bruised greenback some breathing space. Still, the dollar was capped by nervousness about Tuesday's economic dialogue between the United States and Japan. Lingering worries about North Korea and the coming French presidential elections also kept a lid on the dollar against the safe-haven yen.
The partially convertible currency is currently trading at 64.56, weaker by 4 paise from its previous close of 64.52 on Monday. The currency touched a high and low of 64.5850 and 64.4900 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.40 and for Euro stood at 68.40 on April 17, 2017. While the RBI’s reference rate for the Yen stood at 59.39, the reference rate for the Great Britain Pound (GBP) stood at 80.71. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| April 17, 2017 | 64.4053 | 80.7192 |
| April 13, 2017 | 64.3165 | 80.8265 |
(RBI-Reference Rate)
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