Indian rupee weakened against the US dollar on Tuesday as the dollar gained strength against other currencies overseas. Dollar hit a one-and-a-half month high overseas after US manufacturing activity in September rose to its highest level in 13 years, bolstering expectations of an interest rate hike. However, a strong domestic equity market prevented the rupee from falling further. Forex market was shut on Monday for Gandhi Jayanti.
The partially convertible currency is currently trading at 65.58, weaker by 31 paise from its previous close of 65.27 on Friday. The currency touched a high and low of 65.6250 and 65.5200 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 65.35 and for Euro stood at 77.06 on September 29, 2017. While the RBI's reference rate for the Yen stood at 58.03, the reference rate for the Great Britain Pound (GBP) stood at 87.70. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| September 29, 2017 | 65.3552 | 87.7067 |
| September 28, 2017 | 65.7604 | 87.9808 |
(RBI-Reference Rate)
