Indian rupee after posting its biggest one day gain in past two years in the previous session, lost the momentum and declined on Monday against the US dollar, on increased demand of the greenback from the importers and the banks. The dollar too was seen rising against major global currencies overseas, adding pressure to the domestic currency. The lower opening of the domestic equity markets too weighed on the sentiment, though rupee showed some recovery along with the equity in the latter part of the trade but still ended weak. In the global markets, the dollar holding its Friday’s gains was trading flat, while the euro moved modestly higher in Asian trading.
Finally, the rupee ended at 65.73, 6 paise weaker from its previous close of 65.67 on Friday. The currency touched a high and low of 65.88 and 66.61 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 65.75 and for Euro stood at 74.37 on September 21, 2015. While, the RBI’s reference rate for the Yen stood at 54.83, the reference rate for the Great Britain Pound (GBP) stood at 102.1672. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
