Indian rupee weakened against US dollar on Monday on account of buying of American currency by importers amid soaring crude oil prices. Brent crude oil prices hit their highest level since November 2014 ahead of US sanctions against Iran that kick in next month. Further, domestic equity markets are trading in red, also added pressure on domestic unit. On the global front, the US dollar extended gains against major currencies as rising possibility of December interest rate hike along with Fed stance on gradual rate hikes.
The partially convertible currency is currently trading at 72.78, weaker by 29 paise from its previous close of 72.49 on Friday. The currency touched a high and low of 72.8425 and 72.6000 respectively. The reference rate for the dollar stood at 72.54 and for Euro stood at 84.44 on September 28, 2018. While the reference rate for the Yen stood at 63.90, the reference rate for the Great Britain Pound (GBP) stood at 94.90. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| September 28, 2018 | 72.5474 | 94.9080 |
| September 27, 2018 | 72.6505 | 95.4347 |
(Reference Rate)
