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Rupee depreciates against dollar in early trade on Friday

07 Aug 2015 Evaluate

Indian rupee depreciated against dollar in early trade on Friday due to appreciation of US currency overseas. Besides, some demand for the dollar from importers also weighed on the rupee sentiment. On the global front, the dollar steadied against the euro and yen on Friday after a week of gains as the market braced for US non-farm payrolls data that could spur the Federal Reserve to raise interest rates in September.

The partially convertible currency is currently trading at 63.83, weaker by 7 paise from its previous close of 63.76 on Thursday. The currency touched a high and low of 63.83 and 63.75 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.76 and for Euro stood at 69.70 on August 06, 2015. While, the RBI’s reference rate for the Yen stood at 51.11, the reference rate for the Great Britain Pound (GBP) stood at 99.6000. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date 1US$ 1GBP
August 06, 2015 63.760399.6000
August 05, 201563.815999.1508
(RBI-Reference Rate)

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