Indian rupee, after appreciating close to a month high in previous trading session, got off to a weak start and continued to trade weaker in late morning deals on Friday tailing negative local equities and strength of dollar index against basket of other major currencies. Meanwhile, increased dollar demand from importers for the American unit also put pressure on local currencies, which closed near a month high level in previous session of trade on sustained selling of the US currency by exporters and some banks amid prevailing caution ahead of European Central Bank's policy meeting. On the global front, euro was deep under water on Friday having suffered its steepest daily fall in three years after the European Central Bank stunned markets by cutting interest rates and embarking on a trillion-euro asset-buying binge.
The partially convertible currency is currently trading at 60.42, weaker by 6 paise from its previous close of 60.36 on Thursday. The currency has touched a high and low of 60.45 and 60.39 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 60.45 and for Euro stood at 79.46 on September 4, 2014. While, the RBI’s reference rate for the Yen stood at 57.60, the reference rate for the Great Britain Pound (GBP) stood at 99.4589. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| September 4, 2014 | 60.45 | 99.4589 |
| September 3, 2014 | 60.54 | 99.7289 |
(RBI-Reference Rate)
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