Indian rupee, after making a weak start, continued trading weak against dollar on Monday on fresh demand for the American currency from banks and importers in view of its strength overseas against the basket of other major currencies after data last week showed a better-than-expected jump in US jobs data. Meanwhile, local unit also lost ground tailing the subdued trend of other Asian currencies after indicators released on Monday showed that China's trade performance in November was much weaker than expected while Japan's economy in the third quarter shrank even more than initially reported.
Additionally, negative local equities ate into the gains of local currency. On the global front, dollar set a fresh seven-year high against the yen on Monday after surprisingly robust U.S. jobs data bolstered the view that the Federal Reserve could raise interest rates sooner than expected.
The partially convertible currency is currently trading at 61.94, weaker by 15 paise from its previous close of 61.79 on Friday. The currency touched a high and low of 61.95 and 61.90 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 61.85 and for Euro stood at 76.53 on December 05, 2014. While, the RBI’s reference rate for the Yen stood at 51.51, the reference rate for the Great Britain Pound (GBP) stood at 96.7265.
| Date | 1US$ | 1GBP |
| December 05, 2014 | 61.85 | 96.7265 |
| December 04, 2014 | 61.87 | 97.0171 |
(RBI-Reference Rate)
