Indian rupee weakened against US dollar on Tuesday as traders turned cautious ahead of the Reserve Bank of India’s bi-monthly policy outcome. Further, increased demand for the US currency from importers and also the greenback’s gains against rivals overseas too put pressure on the rupee. On the global front, the euro was supported by signs of stability in Italian politics and the dollar maintained an uptrend against the yen after a strong US jobs report sparked bets of three more US rate hikes by the end of year.
The partially convertible currency is currently trading at 67.20, weaker by 8 paise from its previous close of 67.12 on Monday. The currency touched a high and low of 67.2300 and 67.0950 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.05 and for Euro stood at 78.35 on June 04, 2018. While, the RBI’s reference rate for the Yen stood at 61.14, the reference rate for the Great Britain Pound (GBP) stood at 89.61. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| June 04, 2018 | 67.0543 | 89.6181 |
| June 01, 2018 | 67.1840 | 89.1397 |
(RBI-Reference Rate)
