Indian rupee weakened against the US dollar on Thursday on account of some buying in American currency by banks and importers along with weak opening in the domestic equity market. Besides, foreign fund outflows too weighed on the domestic unit. Meanwhile, the Reserve Bank of India (RBI) Wednesday left the repo rate unchanged at 6.5 percent while maintaining the stance of 'calibrated tightening' of policy. On the global front, the dollar fell against the yen as growing investor aversion to riskier assets hit equities and pushed down US Treasury yields. Adding to the jitters was the arrest in Canada of a top executive of Chinese tech giant Huawei Technologies, fanning fears of a flare-up in tensions between China and the United States just as the two sides are supposed to be resuming trade negotiations.
The partially convertible currency is currently trading at 70.99, weaker by 53 paise from its previous close of 70.46 on Wednesday. The currency touched a high and low of 71.10 and 70.80 respectively. The reference rate for the dollar stood at 70.51 and for Euro stood at 79.83 on December 05, 2018. While the reference rate for the Yen stood at 62.37, the reference rate for the Great Britain Pound (GBP) stood at 89.44. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| December 05, 2018 | 70.5171 | 89.4458 |
| December 04, 2018 | 70.3455 | 89.6450 |
(Reference Rate)
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: