Indian rupee ended weak against dollar crossing its 66 level mark on Monday following continued dollar demand from banks and importers coupled with heavy capital outflows amid weakening greenback overseas. The heavy losses in domestic equity markets also weighed on the sentiment of the local currency. The rupee dropped even as dollar weakened against other major global currencies overseas amid mounting global economic slowdown worries. On the global front, yen jumped 1.3 per cent to a three-month high against the dollar as a sell-off in riskier assets gathered pace on growing worries about a slowdown in the Chinese economy and global deflationary pressures
Finally, the rupee ended at 66.65, 82 paise weaker from its previous close of 65.83 on Friday. The currency touched a high and low of 66.73 and 66.29 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.50 and for Euro stood at 76.27 on August 24, 2015. While, the RBI’s reference rate for the Yen stood at 54.97, the reference rate for the Great Britain Pound (GBP) stood at 104.0072. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
