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Rupee weakens on dollar’s strength overseas

12 Jun 2015 Evaluate

Indian rupee after making a flat start was trading weaker on Friday, led by dollar’s strength against basket of other major currencies overseas. Further, lower opening in the domestic equity market too weighed on sentiments. The market sentiment also remains cautious ahead of Consumer Price Index (CPI)-based inflation and index of industrial production (IIP) data scheduled to be released later in the day. On the global front, dollar clung to modest gains early on Friday, having drifted higher on fresh evidence that the US economy was gaining momentum, while a setback in the Greek debt talks put the euro on the defensive.

The partially convertible currency is currently trading at 64.06, weaker by 9 paise from its previous close of 63.97 on Thursday. The currency touched a high and low of 64.0800 and 63.8925 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.89 and for Euro stood at 72.31 on June 11, 2015. While, the RBI’s reference rate for the Yen stood at 51.85, the reference rate for the Great Britain Pound (GBP) stood at 98.8969. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
June 11, 201563.891098.8969
June 10, 201563.884998.4722

(RBI-Reference Rate)

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