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Rupee weakens against dollar in early deal on Monday

29 Jun 2015 Evaluate

Indian rupee weakened against dollar in early deal on Monday, followed by continued demand for the American currency from importers. Besides, weakness in the euro against the American currency overseas amid growing concerns of a Greece debt default and a possible euro zone exit sapped risk appetite for emerging markets’ assets, including local currency. Furthermore, a lower opening in domestic equity market also kept pressure on the rupee.

The partially convertible currency is currently trading at 63.92, weaker by 28 paise from its previous close of 63.64 on Friday. The currency touched a high and low of 63.9400 and 63.7450 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.6042 and for Euro stood at 71.23 on June 26, 2015. While, the RBI’s reference rate for the Yen stood at 51.54, the reference rate for the Great Britain Pound (GBP) stood at 100.0939. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$  1GBP
June 26, 201563.6042 100.0939
June 25, 201563.612199.7947

(RBI-Reference Rate)  

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