Indian rupee weakened against US dollar on Friday due to increased demand for the US currency from importers and its gains against other currencies overseas put pressure on the domestic unit. Meanwhile, a weak trend at Dalal Street also weighed on sentiment at the Interbank Foreign Exchange market. On the global front, the dollar stood tall on Friday, hovering just short of a 13-month high against a basket of peers as European currencies such as the pound and euro continued to lose traction.
The partially convertible currency is currently trading at 68.93, weaker by 25 paisa from its previous close of 68.68 on Thursday. The currency touched a high and low of 69.00 and 68.7650 respectively. The reference rate for the dollar stood at 68.62 and for Euro stood at 79.63 on August 9, 2018. While the RBI’s reference rate for the Yen stood at 61.80, the reference rate for the Great Britain Pound (GBP) stood at 88.34. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
