Indian rupee was trading weaker against the US dollar after a positive start on Wednesday following a sudden bout of dollar demand from importers and banks amid weak domestic equity markets. However, in early trade, the release of US consumer price inflation data that was in line with expectations, dampening more aggressive rate-hike forecasts added to the weakness in dollar and lent some support to the domestic unit. On the global front, the dollar wallowed against the yen and other major currencies on Wednesday after the sudden dismissal of US Secretary of State Rex Tillerson killed off an earlier bounce in the currency.
The partially convertible currency is currently trading at 64.99, weaker by 10 paise from its previous close of 64.89 on Tuesday. The currency touched a high and low of 65.0600 and 64.8650 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.95 and for Euro stood at 80.09 on March 13, 2018. While the RBI’s reference rate for the Yen stood at 60.85, the reference rate for the Great Britain Pound (GBP) stood at 90.23. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| March 13, 2018 | 64.9567 | 90.2314 |
| March 12, 2018 | 65.0199 | 90.1241 |
(RBI-Reference Rate)
