Indian rupee weakened against US dollar on Wednesday, due to strengthening of the dollar against other currencies overseas, amid rising US bond yields and a surge in global crude oil prices. Also, a weak opening in the domestic equity markets along with dollar demand from importers too weighed on the rupee sentiments. On the global front, dollar inched up on Wednesday, approaching its recent four-month high as the US 10-year bond yield poked above 3 percent to hit its highest level since early 2014.
The partially convertible currency is currently trading at 66.65, weaker by 27 paise from its previous close of 66.38 on Tuesday. The currency touched a high and low of 66.7025 and 66.4850 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.36 and for Euro stood at 81.05 on April 24, 2018. While the RBI’s reference rate for the Yen stood at 60.98, the reference rate for the Great Britain Pound (GBP) stood at 92.50. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| April 24, 2018 | 66.3622 | 92.5089 |
| April 23, 2018 | 66.2177 | 92.8438 |
(RBI-Reference Rate)
