Indian rupee turned weak in early deals on Friday owing to the month-end dollar demand from importers despite dollar weakness in overseas markets. Meanwhile, red opening of the local equities coupled with weaker regional counterparts also dampened the spirit of the local currency which commenced on a slightly better note. On the global front, the dollar came under broad pressure, sinking to a four-month low against the yen after the U.S. House of Representatives delayed a vote on a Republican proposal to raise the debt limit, increasing concern that the country will default on its debt. Meanwhile, the euro stayed under pressure in Asia on Friday as worries about the euro zone debt crisis flared up following a jump in Italy's borrowing costs.
The partially convertible currency is currently trading at 44.16, weaker by 8 paise from its previous close of 44.08 on Thursday. It has touched a high and low of 44.18 and 44.06 respectively. The Reserve Bank of India's reference rate for the dollar stood at 44.12 and for Euro it stood at 63.33 on July 28, 2011. While, the RBI's reference rate for the Yen stood at 56.72 and the reference rate for the Great Britain Pound (GBP) stood at 72.0538. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| July 28,2011 | 44.12 | 72.0538 |
| July 27,2011 | 43.94 | 72.1217 |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: