Indian rupee ended weaker against dollar on Monday on account of sustained demand for dollar from banks and importers despite weakness in American currency overseas. The domestic currency looked weak from the very beginning and the sentiment was also dampened by weak trade in the equity market. The sentiments were under pressure after India’s manufacturing sector growth slipped further and touched a 22-month low in October largely due to a slower increase in new orders, but firms hired additional workers. On the global front, U.S. dollar fell, as appetite for risk waned amid downbeat Chinese factory surveys, which also lent support to the euro and the safe-haven yen.
Finally, the rupee ended at 65.59, 33 paise weaker from its previous close of 65.26 on Friday. The currency touched a high and low of 65.62 and 65.36 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 65.47 and for Euro stood at 72.21 on November 02, 2015. While, the RBI’s reference rate for the Yen stood at 54.38 the reference rate for the Great Britain Pound (GBP) stood at 101.0608. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
