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Rupee weakens against dollar in early deals on Tuesday

29 Sep 2015 Evaluate

Indian rupee weakened against dollar in early deals on Tuesday on account of month-end demand for the American currency from importers. Further, sustained foreign capital outflows and a weak domestic equity market too kept pressurizing the rupee. However, the dollar’s weakness against other currencies overseas capped some losses. On the global front, the yen was broadly firmer early on Tuesday, underpinned by safety flows stemming from a selloff in global equities, a risk-off mood that took a heavy toll on commodity currencies.

The partially convertible currency is currently trading at 66.15, weaker by 11 paise from its previous close of 66.04 on Monday. The currency touched a high and low of 66.4175 and 66.15 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.08 and for Euro stood at 73.81 on September 28, 2015. While, the RBI’s reference rate for the Yen stood at 54.92, the reference rate for the Great Britain Pound (GBP) stood at 100.3168. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$ 1GBP
September 28, 201566.0805100.3168
September 24, 201566.0993100.8874

(RBI-Reference Rate)