Indian rupee weakened against US dollar on Thursday on account of buying of American currency by banks and importers. Besides, the American unit strengthened against other currencies overseas too, putting pressure on the rupee. Rupee fell further after upbeat economic data bolstered prospects of a US interest rate increase next month and beyond. A higher interest regime pulls investors looking for more returns away from emerging markets assets that are considered risky. On the global front, the dollar was on the defensive on Thursday as doubts for the prospects of US tax reforms, a fall in US stocks, and declining high-yield bond prices all soured the mood, offsetting an uptick in underlying US inflation.
The partially convertible currency is currently trading at 65.36, weaker by 14 paise from its previous close of 65.22 on Wednesday. The currency touched a high and low of 65.3775 and 65.2800 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 65.36 and for Euro stood at 77.06 on November 15, 2017. While the RBI's reference rate for the Yen stood at 57.76, the reference rate for the Great Britain Pound (GBP) stood at 85.91. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| November 15, 2017 | 65.3689 | 85.9143 |
| November 14, 2017 | 65.5171 | 85.9388 |
(RBI-Reference Rate)
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