Indian rupee, after making a weak start, although has recouped some of its losses, but continued trading weak against dollar on Monday tracking losses in Asian currencies against the dollar, while the subdued trend of local equities also was weighing on the sentiments. Additionally, dollar demand from importers in view of its strength overseas also added to the pessimistic milieu. On the global front, euro hit a nearly nine year low versus the dollar as investors bet on quantitative easing by the European Central Bank. This was after ECB President Mario Draghi said the risk of the central bank not fulfilling its mandate of preserving price stability was higher now than half a year ago.
The partially convertible currency is currently trading at 63.38, weaker by 9 paise from its previous close of 63.29 on Friday. The currency touched a high and low of 63.50 and 63.33 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.28 and for Euro stood at 76.30 on January 02, 2014. While, the RBI’s reference rate for the Yen stood at 52.59, the reference rate for the Great Britain Pound (GBP) stood at 98.3872. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| January 02, 2014 | 63.28 | 98.3872 |
| January 01, 2014 | 63.32 | 98.6356 |
(RBI-Reference Rate)
