Indian rupee weakened against the US dollar on Tuesday on account of fresh demand for the American currency from importers and banks amid foreign fund outflows. On the global front, the euro struggled near a 6-1/2-month low against the dollar on Tuesday, as the bounce seen at the start of the week faded and investors took a grim view on the prospect of fresh elections in Italy.
The partially convertible currency is currently trading at 67.76, weaker by 34 paise from its previous close of 67.42 on Monday. The currency touched a high and low of 67.7800 and 67.6500 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.44 and for Euro stood at 79.00 on May 28, 2018. While, the RBI’s reference rate for the Yen stood at 61.57, the reference rate for the Great Britain Pound (GBP) stood at 89.88. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| May 28, 2018 | 67.4430 | 89.8880 |
| May 25, 2018 | 68.2600 | 91.2158 |
(RBI-Reference Rate)
