Indian rupee weakened against the US dollar on Monday on account of increased demand for the US currency from importers amid foreign fund outflows. Rupee weakened further by tracking Asian peers due to strong US jobs data that bolstered expectations of faster rate hikes there. Moreover, a loss in the domestic equity market too put pressure on the rupee. On the global front, the dollar lost ground against most of its major peers, as growing expectations of an orderly Brexit bolstered the pound, euro and broader global investor sentiment.
The partially convertible currency is currently trading at 72.95, weaker by 50 paise from its previous close of 72.45 on Friday. The currency touched a high and low of 72.9575 and 72.7600 respectively. The reference rate for the dollar stood at 72.87 and for Euro stood at 83.22 on November 2, 2018. While the reference rate for the Yen stood at 64.47, the reference rate for the Great Britain Pound (GBP) stood at 94.75. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| November 02, 2018 | 72.8798 | 94.7530 |
| November 01, 2018 | 73.8295 | 94.8182 |
(Reference Rate)
