Indian rupee weakened against the US dollar on Tuesday due to month-end dollar demand from importers and banks. Further, lower opening in the domestic equity market too put pressure on the rupee. However, the dollar’s weakness overseas provided some cushion to the domestic currency. On the global front, the dollar slumped to a four-month low against the yen early on Tuesday after North Korea fired a missile that passed over northern Japan, the latest act of provocation by Pyongyang that has ramped up tensions in the region over the past month.
The partially convertible currency is currently trading at 63.97, weaker by 6 paise from its previous close of 63.91 on Monday. The currency touched a high and low of 63.9700 and 63.9275 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.87 and for Euro stood at 76.21 on August 28, 2017. While the RBI’s reference rate for the Yen stood at 58.53, the reference rate for the Great Britain Pound (GBP) stood at 82.36. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| August 28, 2017 | 63.8701 | 82.3605 |
| August 24, 2017 | 64.0676 | 81.9361 |
(RBI-Reference Rate)
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