Indian rupee weakened against the US dollar on Thursday on account of fresh buying of the American currency by importers. Further, dollar’s strength against some currencies overseas on expectations of an interest rate hike this year weighed on the rupee. Rupee fell further on continued selling by the foreign institutional investors (FIIs) in the local equity markets. Since 1 September, FIIs have sold nearly $800 million in equities. Though, domestic equity markets opened in green following mixed global cues, capped some losses. On the global front, the US dollar’s rally paused on Thursday as traders waited for consumer inflation data later in the day for clues on whether the Federal Reserve will maintain its gradual pace of credit tightening.
The partially convertible currency is currently trading at 64.07, weaker by 8 paise from its previous close of 63.99 on Wednesday. The currency touched a high and low of 64.1600 and 64.0650 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 63.98 and for Euro stood at 76.66 on September 13, 2017. While the RBI's reference rate for the Yen stood at 58.11, the reference rate for the Great Britain Pound (GBP) stood at 85.15. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| September 13, 2017 | 63.9818 | 85.1534 |
| September 12, 2017 | 63.9474 | 84.3594 |
(RBI-Reference Rate)
