Indian rupee weakened marginally against the US dollar on Wednesday ahead of the Reserve Bank of India’s bi-monthly policy outcome later in the day. Further, fresh demand of the US currency from importers too weighed on domestic currency, but domestic equities soaring to new highs and the dollar's weakness against other currencies overseas restricted the rupee's fall. On the global front, the dollar extended its modest bounce from 15-month lows on Wednesday, benefiting from a pause in selling of the battered currency as investors begin positioning for key events this week, notably Friday's US employment report.
The partially convertible currency is currently trading at 64.10, weaker by 2 paise from its previous close of 64.08 on Tuesday. The currency touched a high and low of 64.1350 and 64.0875 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.06 and for Euro stood at 75.74 on August 01, 2017. While the RBI’s reference rate for the Yen stood at 58.12, the reference rate for the Great Britain Pound (GBP) stood at 84.62. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| August 01, 2017 | 64.0683 | 84.6214 |
| July 31, 2017 | 64.0773 | 84.1591 |
(RBI-Reference Rate)
