Indian rupee has plunged to its three week low on Monday morning in sync with the local equity markets and decline in euro. The domestic currency made a positive start though, the Asian peers were not looking firm while the local share markets too made a flat start, meanwhile the euro was trading lower as euro zone finance ministers postponed a final decision on extending the next tranche of Greek bailout funds to early July. But a sharp plunge in the Indian equity markets on the news of talks with Mauritian government on DTAA issue weighed on the rupee, also dollar demand from oil companies too were piling pressure.
The partially convertible Rupee is trading weaker at 45.01/02, weaker by 15 piase from its previous close of 44.86/87 on Friday. It has touched a high and low of 45.0125 and 44.8650 respectively. The Reserve Bank of India's reference rate for the Dollar stood at 44.93 and for Euro it stood at 63.62 on June 17, 2011. While, the RBI's reference rate for the Yen stood at 55.73 and the reference rate for the Great Britain Pound (GBP) stood at 72.4272. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| June 17, 2011 | 44.93 | 72.4272 |
| June 16, 2011 | 44.90 | 72.5449 |
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