Indian rupee weakened against the US dollar on Tuesday due to increased demand for the American currency from importers. Further, losses in domestic stock markets too kept pressure on rupee. On the global front, the pound slipped against the yen after a suspected terrorist attack at a concert in Britain's city of Manchester, while the euro hovered near a six-month high against the dollar on Tuesday after German Chancellor Angela Merkel said the currency was ‘too weak’.
The partially convertible currency is currently trading at 64.78, weaker by 23 paise from its previous close of 64.55 on Monday. The currency touched a high and low of 64.84 and 64.66 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.56 and for Euro stood at 72.23 on May 22, 2017. While the RBI’s reference rate for the Yen stood at 57.98, the reference rate for the Great Britain Pound (GBP) stood at 83.95. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| May 22, 2017 | 64.5632 | 83.9515 |
| May 19, 2017 | 64.9906 | 84.1823 |
(RBI-Reference Rate)
