Indian rupee after a soft start has weakened further, as the local equity markets despite a positive start turned lower. Earlier, the domestic currency extended its weakness tailing the fall in other emerging market currencies against the dollar. Also, there was some month end dollar demand putting pressure on the rupee, though there was some reported RBI intervention that was keeping the losses in check. On the global front the yen rebounded from near a seven-year low versus the dollar after Bank of Japan Governor Haruhiko Kuroda said the economy is on track to achieving policy makers’ 2 percent inflation target.
The partially convertible currency is currently trading at 62.02, weaker by 8 paise from its previous close of 61.94 on Monday. The currency touched a high and low of 62.04 and 61.95 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 61.77 and for Euro stood 76.59 on November 24, 2014. While, the RBI’s reference rate for the Yen stood at 52.41, the reference rate for the Great Britain Pound (GBP) stood at 96.7842. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| November 24, 2014 | 61.77 | 96.7842 |
| November 21, 2014 | 61.85 | 97.0125 |
