Indian rupee weakened against US dollar on Friday, due to fresh demand for the US currency from importers and banks. Rupee fell further tracking volatile local equity markets ahead of the rollout of goods and services tax (GST) from 1 July. However, some losses were limited because the US dollar plunged to a 12-month low against the euro, as odds rose that there could be shifts in monetary policy by the European Central Bank and the Bank of England.
The partially convertible currency is currently trading at 64.67, weaker by 5 paise from its previous close of 64.62 on Thursday. The currency touched a high and low of 64.7300 and 64.6325 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.47 and for Euro stood at 73.52 on June 29, 2017. While the RBI’s reference rate for the Yen stood at 57.40, the reference rate for the Great Britain Pound (GBP) stood at 83.56. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| June 29, 2017 | 64.4715 | 83.5615 |
| June 28, 2017 | 64.5288 | 82.6614 |
