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Rupee weakens against US dollar on sustained foreign fund outflows

05 Sep 2017 Evaluate

Indian rupee weakened against the US dollar on Tuesday amid sustained foreign fund outflows. Further, fresh demand for the American currency from importers and dollar's recovery against some currencies overseas too weighed on the rupee. On the global front, the dollar slipped against the Japanese yen and Swiss franc on Tuesday, as global tensions simmered amid signs that North Korea could conduct more missile tests.

The partially convertible currency is currently trading at 64.15, weaker by 10 paise from its previous close of 64.05 on Monday. The currency touched a high and low of 64.1800 and 64.0850 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.04 and for Euro stood at 76.15 on September 04, 2017. While the RBI’s reference rate for the Yen stood at 58.51, the reference rate for the Great Britain Pound (GBP) stood at 82.96. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date 1US$1GBP
September 04, 201764.046882.9662
September 01, 201763.980482.6627
(RBI-Reference Rate)

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