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Rupee slips on dollar demand and weak opening in equity markets

28 Dec 2011 Evaluate

Indian rupee has turned weaker for the second consecutive session on Wednesday amid increasing month-end demand for the American currency from importers. Also a subdued opening in the domestic equity market and dollar gains against other Asian currencies overseas weighed on the rupee sentiment.

The partially convertible currency is currently trading at 53.23, weaker by 21 paise from its previous close of 53.02 on Tuesday. It has touched a high and a low of 53.2400 and 53.0750 respectively. The Reserve Bank of India's reference rate for the dollar stood at Rs 52.8945 and for Euro it stood at 69.1508 on December 27, 2011. While, the RBI's reference rate for the Yen stood at 67.90 and the reference rate for the Great Britain Pound (GBP) stood at 82.7111. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
December 27, 201152.89 82.71
December 26, 201152.82 82.47
RBI-Reference Rate

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