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Rupee turns weak on appreciation of American currency overseas

25 Jun 2015 Evaluate

Indian rupee was trading tad weaker against US dollar in early trade on Thursday, due to appreciation of the American currency overseas. Besides, fresh demand for the dollar from importers also weighed on the local currency. Furthermore, a lower opening of the domestic equity market too added pressure on the rupee. On the global front, the dollar dipped versus the yen on Thursday, awaiting US data for fresh cues after giving back gains following an impasse in Greek debt negotiations.

The partially convertible currency is currently trading at 63.62, little changed from its previous close of 63.61 on Wednesday. The currency touched a high and low of 63.6275 and 63.58 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.66 and for Euro stood at 71.31 on June 24, 2015. While, the RBI’s reference rate for the Yen stood at 51.38, the reference rate for the Great Britain Pound (GBP) stood at 100.5000. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$ 1GBP
June 24, 201563.6600100.5000
June 23, 201563.6406100.4121

(RBI-Reference Rate)