Indian rupee weakened against dollar in early deals on Friday on strong demand for the American currency from banks and importers amid sustained capital outflows. Besides, gains in the dollar against major global currencies and a lower opening in the domestic equity markets, also weighed on the rupee. Rupee weakened further ahead of the RBI's planned infusion of liquidity into the system via term repo and open market operations (OMO) routes. RBI will conduct bond purchases of up to Rs 10,000 crore via open market operations (OMO) on Monday. The central bank will also conduct a 28-day variable term repo for Rs 25,000 crore to inject funds into the banking system. On the global front, the euro stood head and shoulders above its rivals on Friday after boasting its biggest one-day surge in nearly seven years, as the latest round of policy easing by the European Central Bank fell well short of market expectations.
The partially convertible currency is currently trading at 66.84, weaker by 18 paise from its previous close of 66.66 on Thursday. The currency touched a high and low of 66.99 and 66.80 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.74 and for Euro stood at 70.66 on December 03, 2015. While, the RBI’s reference rate for the Yen stood at 54.08 the reference rate for the Great Britain Pound (GBP) stood at 99.6102. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| December 03, 2015 | 66.7450 | 99.6102 |
| December 02, 2015 | 66.6158 | 100.3434 |
(RBI-Reference Rate)
