Indian rupee weakened marginally against US dollar on Wednesday. Besides, domestic equity markets were trading under pressured due to sell-offs in banking counters amid reports that the SFIO summoned other lenders in the PNB fraud matter, weighted on rupee sentiments. However, the dollar’s weakness against other currencies overseas after a key advocate for free trade in the White House announced his resignation, fanning fears that President Donald Trump would go ahead with import tariff hike and risk a trade war, capped the rupee’s losses.
The partially convertible currency is currently trading at 64.99, weaker by 3 paise from its previous close of 64.96 on Tuesday. The currency touched a high and low of 65.0100 and 64.8700 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.99 and for Euro stood at 80.20 on March 06, 2018. While the RBI’s reference rate for the Yen stood at 61.20, the reference rate for the Great Britain Pound (GBP) stood at 89.90. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| March 06, 2018 | 64.9941 | 89.9063 |
| March 05, 2018 | 65.0530 | 89.6951 |
(RBI-Reference Rate)
