Indian rupee weakened against US dollar on Tuesday on account of buying in American currency by banks and importers amid sustained outflows by foreign investors. Further, the US dollar's strength against some currencies overseas and a lower opening in the domestic equity markets also weighed on the local unit. On the global front, the dollar held most of its overnight gains against a basket of its key rivals, with Tuesday’s trade supported by a safe haven bid as fresh worries over Sino-US frictions and fears of a slowdown in global economic growth sapped investors’ confidence.
The partially convertible currency is currently trading at 73.58, weaker by 13 paise from its previous close of 73.45 on Monday. The currency touched a high and low of 73.6325 and 73.5400 respectively. The reference rate for the dollar stood at 73.41 and for Euro stood at 83.69 on October 29, 2018. While the reference rate for the Yen stood at 65.62, the reference rate for the Great Britain Pound (GBP) stood at 94.26. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| October 29, 2018 | 73.4181 | 94.2644 |
| October 26, 2018 | 73.3740 | 94.0503 |
(Reference Rate)
