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Rupee weakens on appreciation of American currency in global markets

18 Dec 2015 Evaluate

Indian rupee weakened against dollar in early deals on Friday due to appreciation of the American currency against other global currencies. Further, lower opening in the domestic equity markets, also weighed on the rupee. On the global front, the US dollar stood at its highest in two weeks against a basket of currencies early on Friday, having made a decisive move a day after the Federal Reserve delivered a long-awaited hike in interest rates.

The partially convertible currency is currently trading at 66.45, weaker by 3 paise from its previous close of 66.42 on Thursday. The currency touched a high and low of 66.5275 and 66.4050 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.64 and for Euro stood at 72.32 on December 17, 2015. While, the RBI’s reference rate for the Yen stood at 54.43 the reference rate for the Great Britain Pound (GBP) stood at 99.6133. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
December 17, 201566.648899.6133
December 16, 201566.8468100.5777

(RBI-Reference Rate)

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