Erasing all of the entail gains, Indian rupee weakened against the US dollar on Thursday. In early trade, rupee strengthened against American currency after the government raised import duties on select items to check rupee fall and contain current account deficit (CAD). However, dollar’s strength against other overseas currencies added pressure on local unit. On the global front, the US dollar inched higher against some major basket of currencies after the Federal Open Market Committee increased the overnight funds rate to a range of 2.00% to 2.25%.
The partially convertible currency is currently trading at 72.68, weaker by 6 paise from its previous close of 72.62 on Wednesday. The currency touched a high and low of 72.7250 and 72.3800 respectively. The reference rate for the dollar stood at 72.71 and for Euro stood at 85.53 on September 26, 2018. While the reference rate for the Yen stood at 64.42, the reference rate for the Great Britain Pound (GBP) stood at 95.76. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| September 26, 2018 | 72.7182 | 95.7699 |
| September 25, 2018 | 72.8134 | 95.5016 |
(Reference Rate)
