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Rupee trades weak for second consecutive session

23 Dec 2011 Evaluate

Indian rupee turned weak for second consecutive session on Friday owing to absence of risk appetite across the globe. However, the local currency is trading on flat note with negative bias as gains in domestic equity markets were counterbalanced by weaker regional counterparts. On the global front, the euro edged up against the U.S. dollar in holiday-thinned Asian trade on Friday, but was still on track to end the year modestly lower as the European debt crisis looks set to last for many more months.

The partially convertible currency is currently trading at 52.75, weaker by 3 paise from its previous close of 52.72 on Thursday. It has touched a high and a low of 52.76 and 52.64 respectively. The Reserve Bank of India's reference rate for the dollar stood at Rs 52.78 and for Euro it stood at 68.87 on December 22, 2011. While, the RBI's reference rate for the Yen stood at 67.63 and the reference rate for the Great Britain Pound (GBP) stood at 82.7313. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
December 22, 201152.78 82.7313
December 21, 201152.67 82.5259
RBI- Reference Rate

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