Indian rupee weakened against dollar in early trade on Monday on account of strong demand for the American currency from banks and importers. Besides, gains in the dollar against major global currencies following stronger-than-expected rise in US non-farm payrolls last month put pressure on the Indian unit. Furthermore, a lower opening in domestic equity markets after Prime Minister Narendra Modi's heavy defeat in Bihar's state elections raised concerns the government would struggle to pass policy reforms, weighed on the rupee. On the global front, the dollar remained aloft in Asian trade on Monday, after soaring to nearly seven-month highs against a basket of currencies as robust US employment data prompted more investors to bet on an interest rate increase by this year.
The partially convertible currency is currently trading at 66.33, weaker by 57 paise from its previous close of 65.76 on Friday. The currency touched a high and low of 66.50 and 66.31 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.
| Date | 1US$ | 1GBP |
| November 06, 2015 | 65.7910 | 99.9497 |
| November 05, 2015 | 65.6755 | 101.0221 |
(RBI-Reference Rate)
