Indian Rupee weakened against the US dollar on Thursday even after the American currency weakened overseas. The dollar slipped back from three-week highs against the yen, quickly erasing gains made after the Federal Reserve took a slightly more hawkish policy tone in signaling two more rate hikes by year-end. As widely expected, the Fed lifted key overnight borrowing costs by a quarter percentage point for a second time this year, to between 1.75 and 2.00 percent.
The partially convertible currency is currently trading at 67.70, weaker by 6 paise from its previous close of 67.64 on Wednesday. The currency touched a high and low of 67.7050 and 67.5725 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.62 and for Euro stood at 79.39 on June 13, 2018. While the RBI’s reference rate for the Yen stood at 61.15, the reference rate for the Great Britain Pound (GBP) stood at 90.33. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| June 13, 2018 | 67.6251 | 90.3336 |
| June 12, 2018 | 67.4571 | 90.0620 |
(RBI-Reference Rate)
