Indian rupee weakened against the US dollar on Friday, followed by weak trade in domestic equity markets. However, increased selling of the American currency by banks and exporters, capped the losses. Yesterday, rupee had recovered from deep overnight losses and ended higher against the US dollar after RBI lowered its inflation forecast and revised up its growth outlook. On the global front, the dollar fell against the yen on Friday after US President Donald Trump said he had instructed US trade officials to consider $100 billion in additional tariffs on China.
The partially convertible currency is currently trading at 65.02, weaker by 6 paise from its previous close of 64.96 on Thursday. The currency touched a high and low of 65.0375 and 64.9400 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 65.06 and for Euro stood at 79.77 on April 05, 2018. While the RBI’s reference rate for the Yen stood at 60.78, the reference rate for the Great Britain Pound (GBP) stood at 91.50. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| April 05, 2018 | 65.0601 | 91.5005 |
| April 04, 2018 | 65.0232 | 91.4941 |
(RBI-Reference Rate)
