Indian rupee, after snapping four day of losses in previous trading session, resumed its depreciating streak on Monday, tailing the massive losses of local equities and dollar’s gains against other currencies overseas on an upbeat US jobs data and fresh demand from importers for the Greenback. The local unit resumed trade after a long weekend on somber note and failed to recover thereon. Forex Markets remained shut on Friday on account of ‘ Holi’. On the global front, dollar drifted to a fresh 11 year high against a basket of major currencies as markets wagered that the Federal Reserve might raise interest rates sooner than later.
The partially convertible currency is currently trading at 62.65, weaker by 48 paise from its previous close of 62.17 on Thursday. The currency touched a high and low of 62.73 and 62.60 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 62.20 and for Euro stood at 68.60 on March 5, 2015. While, the RBI’s reference rate for the Yen stood at 51.89, the reference rate for the Great Britain Pound (GBP) stood at 94.7142. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| March 5, 2015 | 62.20 | 94.7142 |
| March 4, 2015 | 61.85 | 94.9649 |
(RBI-Reference rate)
