Indian rupee weakened against the US Dollar on Wednesday on account of fresh demand for the American currency from importers and banks and sustained foreign fund outflows. Forex market remained closed on Monday and Tuesday on account of 'Buddha Purnima' and 'Maharashtra Day', respectively. On the global front, the dollar held near a four-month high against a basket of major currencies on Wednesday, buoyed by the outlook for a strong US economy and rising yields amid signs of a slowdown elsewhere, especially in Europe.
The partially convertible currency is currently trading at 66.74, weaker by 9 paise from its previous close of 66.65 on Friday. The currency touched a high and low of 66.7800 and 66.6300 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.78 and for Euro stood at 80.74 on April 27, 2018. While the RBI’s reference rate for the Yen stood at 61.08, the reference rate for the Great Britain Pound (GBP) stood at 92.89. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| April 27, 2018 | 66.7801 | 92.8911 |
| April 26, 2018 | 66.8299 | 93.1676 |
(RBI-Reference Rate)
