Indian rupee weakened against US dollar on Friday, on account of increased demand for the American currency from importers. Besides, strength in the US dollar against some other currencies overseas and weak opening in domestic equity markets also weighed on the domestic currency. Traders maintained a cautious approach as US Federal Reserve chair Janet Yellen and at least five other central bank officials are scheduled to speak on Friday and ahead of the French presidential election on Sunday. On the global front, Euro traded near a six-month high against the dollar on Friday, supported by expectations that centrist Emmanuel Macron will win France's presidential election.
The partially convertible currency is currently trading at 64.31, weaker by 14 paise from its previous close of 64.17 on Thursday. The currency touched a high and low of 64.32 and 64.22 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.21 and for Euro stood at 69.93 on May 04, 2017. While the RBI’s reference rate for the Yen stood at 56.95, the reference rate for the Great Britain Pound (GBP) stood at 82.56. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| May 04, 2017 | 64.2115 | 82.5631 |
| May 03, 2017 | 64.1439 | 82.7969 |
(RBI-Reference Rate)
