Indian rupee weakened against the US currency on Wednesday due to dollar buying by importers and banks. Besides, the dollar’s gains against major global currencies also weighed on the domestic currency. However, a firm domestic equity market capped the losses. On the global front, the euro eased on Wednesday to take a breather from a rally prompted by optimism over the euro zone’s economy and expectations the European Central Bank will wind down its bond-buying stimulus in 2018.
The partially convertible currency is currently trading at 63.51, weaker by 3 paise from its previous close of 63.48 on Tuesday. The currency touched a high and low of 63.5775 and 63.4950 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at 63.67 and for Euro stood at 76.58 on January 02, 2018. While the RBI's reference rate for the Yen stood at 56.52, the reference rate for the Great Britain Pound (GBP) stood at 86.11. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| January 02, 2018 | 63.6728 | 86.1111 |
| January 01, 2018 | 63.6697 | 85.8968 |
(RBI-Reference Rate)
