Indian rupee weakened against the US dollar on Monday as crude oil prices surged after the United States and China agreed a truce in their trade conflict and ahead of a meeting by producer club OPEC this week that is expected to result in a supply cut. Furthermore, a lower-than-expected Q2 GDP growth of 7.1% also hurt the sentiment. On the global front, the dollar broadly weakened as investor demand for riskier assets rose after China and the United States agreed to a ceasefire in their trade war that has shaken global markets.
The partially convertible currency is currently trading at 70.04, weaker by 46 paise from its previous close of 69.58 on Friday. The currency touched a high and low of 70.0900 and 69.8700 respectively. The reference rate for the dollar stood at 69.65 and for Euro stood at 79.35 on November 30, 2018. While the reference rate for the Yen stood at 61.43, the reference rate for the Great Britain Pound (GBP) stood at 89.08. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| November 30, 2018 | 69.6574 | 89.0848 |
| November 29, 2018 | 69.9159 | 89.7389 |
(Reference Rate)
