Indian rupee weakened against US dollar on Monday on account of buying of American currency by banks and importers, and as the greenback strengthened against other currencies overseas after reports that China had cancelled upcoming trade talks with the US. Besides, higher oil prices and overnight gains in the US dollar further impacted the domestic currency. Furthermore, losses in domestic equities also put pressure on the rupee. On the global front, the safe-haven Japanese yen briefly blipped higher on Monday as investors reacted to news China had canceled trade talks with the United States just as the latest round of tariffs are set to take effect.
The partially convertible currency is currently trading at 72.60, weaker by 40 paise from its previous close of 72.20 on Friday. The currency touched a high and low of 72.6325 and 72.3400 respectively. The reference rate for the dollar stood at 71.84 and for Euro stood at 84.68 on September 21, 2018. While the reference rate for the Yen stood at 63.67, the reference rate for the Great Britain Pound (GBP) stood at 95.15. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| September 21, 2018 | 71.8489 | 95.1500 |
| September 19, 2018 | 72.6781 | 95.5925 |
(Reference Rate)
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