Indian rupee once again resumed the declining trend and slipped past the 64 mark on Monday. The domestic currency looked weak since morning on capital outflows by foreign funds amid strengthening of the American currency against others overseas. The weakness in the local equity markets along with increased demand for the greenback from banks and importers too weighed on the sentiments. On the global front, the dollar held firm against a basket of major currencies and traded near 13-year highs against the yen after strong US employment data bolstered expectations for an interest rate hike by the Federal Reserve before year-end.
Finally the rupee ended at 64.09, 34 paise weaker from its previous close of 63.75 on Friday. The currency touched a high and low of 64.16 and 64.00 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.11 and for Euro stood at 71.11 on June 8, 2015. While, the RBI’s reference rate for the Yen stood at 51.06, the reference rate for the Great Britain Pound (GBP) stood at 97.8447. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
