Indian rupee extending its weakness for the second straight day depreciated against dollar on Friday due to sustained demand for American currency from importers, amid weakness in Asian currencies. Besides, volatility in equity market which closed in red also hit the sentiment of the domestic currency. Sentiment remained subdued with RBI Governor Raghuram Rajan’s statement that the central bank is comfortable with the current level of policy rates till more room builds up, even as the government expressed hope for further cuts. On the global front, the dollar was at three-month high on Friday, ahead of US jobs data expected to nudge the Federal Reserve towards its first interest rate hike in almost a decade.
Finally, the rupee ended at 65.76, 2 paise weaker from its previous close of 65.74 on Thursday. The currency touched a high and low of 65.87 and 65.73 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 65.79 and for Euro stood at 71.54 on November 06, 2015. While, the RBI’s reference rate for the Yen stood at 54.00 the reference rate for the Great Britain Pound (GBP) stood at 99.9497. The reference rates are based on 12 noon rates of a few select banks in Mumbai
