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Rupee weakens on sustained demand for US currency

15 Jun 2015 Evaluate

Indian Rupee was trading weaker against US dollar in early trade on Monday due to sustained demand for the US currency from importers amid capital outflows. Besides, a lower opening of the domestic equity market too added pressure on the rupee. On the global front, euro lurched lower on Monday after efforts on ending a deadlock between Greece and its creditors broke up in failure over the weekend.

The partially convertible currency is currently trading at 64.09, weaker by 3 paise from its previous close of 64.06 on Friday. The currency touched a high and low of 64.1725 and 64.0850 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.03 and for Euro stood at 71.89 on June 12, 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 99.2723. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date 1US$1GBP
June 12, 201564.0301 99.2723
June 11, 201563.891098.8969

(RBI-Reference Rate)