Indian rupee weakened against dollar in early deals on Thursday on account of foreign fund outflows amid appreciation in the US currency overseas. Besides, fresh demand for the US currency from importers and banks too weighed on rupee. However, early gains in domestic stock markets capped the rupee losses. On the global front, the dollar climbed against the euro and yen on Thursday as global investors tentatively stepped back into riskier equities, tempering the recent rush to unwind carry trades that had boosted the single currency and the Japanese unit. Currency markets across the globe will pay heed to jobless claims data scheduled in the US later in the day. Data on US PMI services, ISM non-manufacturing and international trade, to be announced later in the day, could also guide currency markets going ahead. All eyes would be on the US payrolls data scheduled for release on Friday. Any improvement in these numbers could boost chances of a rate hike by the US Federal Reserve in its forthcoming two-day policy review, beginning September 16.
The partially convertible currency is currently trading at 66.26, weaker by 7 paise from its previous close of 66.19 on Wednesday. The currency touched a high and low of 66.29 and 66.1850 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.16 and for Euro stood at 74.60 on September 1, 2015. While, the RBI’s reference rate for the Yen stood at 55.09, the reference rate for the Great Britain Pound (GBP) stood at 101.2174. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| September 02, 2015 | 66.1638 | 101.2174 |
| September 01, 2015 | 66.2603 | 101.9945 |
(RBI-Reference Rate)
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