Indian rupee weakened against US dollar on Monday on account of buying in American currency by banks and importers amid unabated foreign fund outflows and high crude oil prices. Further, the dollar's strength against major global currencies too weighed on the domestic currency. On the global front, the dollar strengthened after China's central bank eased its domestic policy to support the economy. China's central bank said on Sunday that it was cutting the reserve requirement rations (RRRs) by 1 percent from October 15 which will inject a net $109.2 billion in cash into the banking system, amid a deepening trade war with the US that has increased pressure on growth in the world's second largest economy.
The partially convertible currency is currently trading at 73.86, weaker by 10 paise from its previous close of 73.76 on Friday. The currency touched a high and low of 73.9050 and 73.7600 respectively. The reference rate for the dollar stood at 73.58 and for Euro stood at 84.69 on October 5, 2018. While the reference rate for the Yen stood at 64.59, the reference rate for the Great Britain Pound (GBP) stood at 95.88. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| October 05, 2018 | 73.5809 | 95.8877 |
| October 04, 2018 | 73.7509 | 95.3904 |
(Reference Rate)
