Indian rupee weakened against the US dollar on Wednesday, following surging demand for the greenback as crude oil prices zoomed past $76 per barrel level amid foreign capital outflows. Besides, early losses in stock markets also weighed on rupee sentiments. On global front, the dollar rose to a six-day high against the yen on Wednesday as crude oil prices rallied and pushed Treasury yields higher after US President Donald Trump pulled out from an international nuclear deal with Iran. The greenback also gained against the euro as concerns about Italian political turmoil hurt the common currency.
The partially convertible currency is currently trading at 67.35, weaker by 27 paise from its previous close of 67.08 on Tuesday. The currency touched a high and low of 67.4550 and 67.3025 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.08 and for Euro stood at 80.00 on May 08, 2018. While the RBI’s reference rate for the Yen stood at 61.56, the reference rate for the Great Britain Pound (GBP) stood at 91.13. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| May 08, 2018 | 67.0809 | 91.1361 |
| May 07, 2018 | 67.1060 | 90.8481 |
(RBI-Reference Rate)
