Indian rupee weakened against the US dollar on Thursday due to hike in repo rate and fresh demand for the American unit from importers and banks. However, the dollar’s weakness against other currencies, including the euro, limited the rupee’s fall. Yesterday, the RBI had hiked the policy rate for the first time in over four years, by 0.25 percent, to curb inflationary pressures from high oil prices. On the global front, the euro stayed near two-week highs against many of its rivals on Thursday, on rising bets the European Central Bank (ECB) may soon announce it will start winding down its massive bond purchase programme.
The partially convertible currency is currently trading at 67.11, weaker by 18 paise from its previous close of 66.93 on Wednesday. The currency touched a high and low of 67.1425 and 66.9450 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.03 and for Euro stood at 78.67 on June 06, 2018. While, the RBI’s reference rate for the Yen stood at 61.02, the reference rate for the Great Britain Pound (GBP) stood at 89.94. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| June 06, 2018 | 67.0397 | 89.9472 |
| June 05, 2018 | 67.1794 | 89.4292 |
(RBI-Reference Rate)
