Indian rupee weakened against the US dollar on Tuesday, due to fresh buying of the American currency by importers amid sustained foreign fund outflows. Further, dollar's strength against a basket of some currencies overseas too weighed on the rupee, but a higher opening of the domestic equity markets limited the fall. On the global front, the British pound was frail on Tuesday after the departure of two key eurosceptic ministers raised worries about a ‘hard Brexit’ while the yen retreated against the dollar as investors bid up riskier assets.
The partially convertible currency is currently trading at 68.80, weaker by 8 paise from its previous close of 68.72 on Monday. The currency touched a high and low of 68.84 and 68.75 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.65 and for Euro stood at 80.78 on July 9, 2018. While the RBI’s reference rate for the Yen stood at 62.16, the reference rate for the Great Britain Pound (GBP) stood at 91.46. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| July 09, 2018 | 68.6573 | 91.4653 |
| July 06, 2018 | 68.8757 | 91.1432 |
(RBI-Reference Rate)
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