Indian rupee weakened against the US dollar on Monday on account of buying of American currency by corporates and importers. Besides, strengthening of dollar against other currencies overseas and fresh foreign fund outflows also put pressure on rupee. Rupee fell further on fears that the tax rate decision of the GST Council will have a revenue implication of Rs 20,000 crore annually. On the global front, the pound slipped early on Monday as troubles mounted for British Prime Minister May, with a report that 40 Conservative MPs are readying a leadership challenge, while Brexit talks face a crucial deadline. The dollar received a lift against its major peers as US yields spiked and as the pound stumbled, although the main investor focus was still on a planned US tax overhaul.
The partially convertible currency is currently trading at 65.40, weaker by 24 paise from its previous close of 65.16 on Friday. The currency touched a high and low of 65.4050 and 65.2550 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 65.01 and for Euro stood at 75.73 on November 10, 2017. While the RBI's reference rate for the Yen stood at 57.34, the reference rate for the Great Britain Pound (GBP) stood at 85.54. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| November 10, 2017 | 65.0147 | 85.5463 |
| November 09, 2017 | 64.8967 | 85.2548 |
(RBI-Reference Rate)
