Indian rupee weakened against US dollar on Monday due to fresh foreign fund outflows. Besides, increased demand for the US currency from importers and banks and a weak domestic equity market, too weighed on the rupee. The rupee sentiment was hit further as Standard & Poor’s had on Friday kept its sovereign rating for India unchanged at ‘BBB-minus’ with ‘stable’ outlook saying vulnerabilities stemming from low per capita income and high government debt balance strong GDP growth. On the global front, the euro hit a two-month high versus the dollar and held firm against other major currencies on Monday thanks to strong German business confidence and reduced anxiety about political instability in Europe’s biggest economy.
The partially convertible currency is currently trading at 64.73, weaker by 3 paise from its previous close of 64.70 on Friday. The currency touched a high and low of 64.8300 and 64.7000 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 64.73 and for Euro stood at 76.72 on November 24, 2017. While the RBI's reference rate for the Yen stood at 58.07, the reference rate for the Great Britain Pound (GBP) stood at 86.03. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| November 24, 2017 | 64.7328 | 86.0364 |
| November 23, 2017 | 64.7949 | 86.3327 |
(RBI-Reference Rate)
