Indian rupee extending losses, weakened further against US dollar on Wednesday in early deals, on increased demand for the US currency from importers amid political upheaval in Saudi Arabia. Besides, sluggish trade in domestic equity markets also put pressure on the local currency. However, the dollar’s weakness against other currencies in global markets, capped the rupee losses. On the global front, the dollar slipped broadly, hurt by reports that suggested the implementation of a centerpiece corporate tax cut under discussion in US tax reforms plans could be delayed.
The partially convertible currency is currently trading at 65.07, weaker by 4 paise from its previous close of 65.03 on Tuesday. The currency touched a high and low of 65.1650 and 65.0375 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 64.80 and for Euro stood at 75.22 on November 07, 2017. While the RBI's reference rate for the Yen stood at 56.85, the reference rate for the Great Britain Pound (GBP) stood at 85.33. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| November 07, 2017 | 64.8064 | 85.3371 |
| November 06, 2017 | 64.7267 | 84.6366 |
(RBI-Reference Rate)
