Extending previous session losses, Indian rupee weakened against dollar on Friday and breached the 65 mark to hit near four-month low, due to frantic dollar demand from importers and banks. Besides, losses in domestic equity markets and unabated foreign fund outflow, also weighed on the rupee sentiments. Since August 1 till date, foreign institutional investors (FIIs) have sold nearly $2.5 billion in local equity markets. On the global front, the dollar edged down against yen on Friday, as tensions simmered on the Korean peninsula, though the sharp divergence between US and Japanese monetary policy contained the greenback’s losses.
The partially convertible currency is currently trading at 65.01, weaker by 21 paise from its previous close of 64.80 on Thursday. The currency touched a high and low of 65.1550 and 64.9675 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 64.52 and for Euro stood at 76.74 on September 21, 2017. While the RBI's reference rate for the Yen stood at 57.30, the reference rate for the Great Britain Pound (GBP) stood at 87.15. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| September 21, 2017 | 64.5256 | 87.1547 |
| September 20, 2017 | 64.3637 | 87.0262 |
(RBI-Reference Rate)
