Indian rupee weakened against the US dollar on Wednesday due to increased demand for the American currency from importers. Further, strengthening of dollar against other currencies overseas weighed on the rupee sentiment. Also, firm domestic equity market limited the rupee's losses. On the global front, the dollar bobbed above a 13-month low against a basket of major currencies as investors awaited the US Federal Reserve's policy statement for clues on the timing of its next monetary tightening.
The partially convertible currency is currently trading at 64.43, weaker by 5 paise from its previous close of 64.38 on Tuesday. The currency touched a high and low of 64.4475 and 64.3975 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.35 and for Euro stood at 75.06 on July 25, 2017. While the RBI’s reference rate for the Yen stood at 58.05, the reference rate for the Great Britain Pound (GBP) stood at 83.87. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| July 25, 2017 | 64.3580 | 83.8778 |
| July 24, 2017 | 64.4494 | 83.8164 |
(RBI-Reference Rate)
