Indian rupee weakened against the US dollar on Wednesday on account of crisis in the emerging market currencies. Besides, consistent rise in the crude oil prices and dollar strength too kept sentiments bearish. Further, dull trading of domestic indices too added pressure on rupee. On the global front, the US dollar edged lower against some currencies overseas as the lingering threat of a major escalation in the trade conflict between the US and China.
The partially convertible currency is currently trading at 71.72, weaker by 15 paisa from its previous close of 71.57 on Tuesday. The currency touched a high and low of 71.7900 and 71.3750 respectively. The reference rate for the dollar stood at 71.18 and for Euro stood at 82.49 on September 4, 2018. While the RBI’s reference rate for the Yen stood at 63.92, 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.
