Indian rupee weakened against the US dollar on Thursday as rising crude oil prices deepened concerns about the country's current account deficit and inflation dynamics. Consistent dollar demand from banks and importers, mainly oil refiners, following higher crude oil prices kept the rupee under pressure. On the global front, the dollar was steady against its peers on Thursday, having failed to extend overnight gains amid conflicting signals from Washington on a proposal to restrict Chinese investment as the bitter US-China trade row kept financial markets on edge.
The partially convertible currency is currently trading at 68.95, weaker by 33 paise from its previous close of 68.62 on Wednesday. The currency touched a high and low of 69.1000 and 68.8250 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.52 and for Euro stood at 79.86 on June 27, 2018. While the RBI’s reference rate for the Yen stood at 62.36, the reference rate for the Great Britain Pound (GBP) stood at 90.60. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| June 27, 2018 | 68.5246 | 90.6032 |
| June 26, 2018 | 68.1676 | 90.4720 |
(RBI-Reference Rate)
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