Indian rupee weakened against the US dollar on Monday as demand for the American currency from importers and banks picked up. Further, the dollar strengthened against a few currencies overseas that pushed down the rupee. However, domestic equity markets opened in green following the rollout of Goods and Services Tax from July 1, 2017, limited the rupee’s losses. On the global front, the dollar edged off from a nine-month low against a basket of currencies on Monday, but it remained shaky as signs central banks in Europe were moving away from accommodative monetary policies kept the euro and sterling well supported.
The partially convertible currency is currently trading at 64.68, weaker by 11 paise from its previous close of 64.57 on Friday. The currency touched a high and low of 64.7250 and 64.6250 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.73 and for Euro stood at 74.00 on June 30, 2017. While the RBI’s reference rate for the Yen stood at 57.78, the reference rate for the Great Britain Pound (GBP) stood at 84.25. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| June 30, 2017 | 64.7379 | 84.2564 |
| June 29, 2017 | 64.4715 | 83.5615 |
(RBI-Reference Rate)
