Indian rupee weakened against the US dollar on Wednesday as dollar strengthened overseas. Though, a higher opening of domestic equity markets capped the rupee rupee’s losses. On the global front, the dollar strengthened against most major peers, while the yen weakened as upbeat Wall Street earnings reduced global appetites for safe haven assets.
The partially convertible currency is currently trading at 73.52, weaker by 4 paise from its previous close of 73.48 on Tuesday. The currency touched a high and low of 73.5675 and 73.3700 respectively. The reference rate for the dollar stood at 73.90 and for Euro stood at 85.57 on October 16, 2018. While the reference rate for the Yen stood at 65.95, the reference rate for the Great Britain Pound (GBP) stood at 97.33. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| October 16, 2018 | 73.9041 | 97.3327 |
| October 15, 2018 | 73.9708 | 97.0832 |
(Reference Rate)
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