Indian rupee weakened against US dollar on Wednesday on account of strong month-end dollar demand from importers and banks amid sustained foreign capital outflows. Further, the dollar’s strength against some currencies overseas too weighed on the local currency, but a higher opening of the domestic equity markets capped the losses. On the global front, the dollar was buoyant on Wednesday, having rebounded from two-week lows against its rivals as the yen sagged on easing risk aversion.
The partially convertible currency is currently trading at 68.53, weaker by 28 paise from its previous close of 68.25 on Tuesday. The currency touched a high and low of 68.5800 and 68.4200 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.16 and for Euro stood at 79.74 on June 26, 2018. While the RBI’s reference rate for the Yen stood at 62.17, the reference rate for the Great Britain Pound (GBP) stood at 90.47. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| June 26, 2018 | 68.1676 | 90.4720 |
| June 25, 2018 | 68.1466 | 90.2738 |
(RBI-Reference Rate)
