Indian rupee weakened against the US dollar on Thursday on account of increased demand for the American currency from importers and banks amid soaring crude oil prices overseas. Further, foreign capital outflows too weighed on the domestic unit. However, weakness in the US dollar against select currencies and higher opening in domestic equity market capped the fall in the rupee. On the global front, the dollar was steady against a basket of its peers on Thursday, supported by higher long-term US Treasury yields on improving investor appetite for risk assets, though lingering concerns over US-China trade tensions checked the greenback.
The partially convertible currency is currently trading at 65.77, weaker by 10 paise from its previous close of 65.66 on Wednesday. The currency touched a high and low of 65.8500 and 65.7500 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 65.68 and for Euro stood at 81.30 on April 18, 2018. While the RBI’s reference rate for the Yen stood at 61.21, the reference rate for the Great Britain Pound (GBP) stood at 93.98. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| April 18, 2018 | 65.6814 | 93.9835 |
| April 17, 2018 | 65.6124 | 94.2063 |
(RBI-Reference Rate)
