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Rupee turns weak on strong gains in the greenback against major world currencies

06 Aug 2015 Evaluate

Indian rupee weakened against dollar in the early deals on Thursday, tracking strong gains in the greenback against major world currencies. Further, increased demand for the US currency from importers also influenced the rupee’s fall. Though, higher opening in the domestic equity market, capped some losses in the rupee. On the global front, the dollar held at two-month highs versus the yen early on Thursday, having risen against some currencies as data shows the US services sector expanded at its fastest pace in 10 years, supporting the case for a hike in US interest rates next month.

The partially convertible currency is currently trading at 63.77, weaker by 2 paise from its previous close of 63.75 on Wednesday. The currency touched a high and low of 63.79 and 63.71 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.81 and for Euro stood at 69.31 on August 05, 2015. While, the RBI’s reference rate for the Yen stood at 51.29, the reference rate for the Great Britain Pound (GBP) stood at 99.1508. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
August 05, 201563.815999.1508
August 04, 201563.931599.8226

(RBI-Reference Rate)

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