Indian rupee weakened against the US dollar on Wednesday on account of increased demand for the US currency from importers and rising crude prices. Though, a higher opening in domestic equities and sustained foreign fund inflows, restricting the slide in the domestic unit to some extent. Foreign institutional investors (FIIs) pumped in Rs 999.02 crore on a net basis Tuesday, provisional data showed. Yesterday, the rupee had strengthened following a robust response to maiden rupee-dollar swap auction by the Reserve Bank of India (RBI). Under the rupee-dollar swap auction conducted on Tuesday, the RBI received bids for $16.31 billion, against the notified amount of $5 billion.
The partially convertible currency is currently trading at 68.89, weaker by 3 paise from its previous close of 68.86 on Tuesday. The currency touched a high and low of 68.9850 and 68.8600 respectively. The reference rate for the dollar stood at 68.84 and for Euro stood at 77.86 on March 26, 2019. While the reference rate for the Yen stood at 62.55, the reference rate for the Great Britain Pound (GBP) stood at 90.77.
| Date | 1US$ | 1GBP |
| March 26, 2019 | 68.8469 | 90.7737 |
| March 25, 2019 | 68.9903 | 90.8731 |
(Reference Rate)
