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Rupee weakens against dollar in early deals on Tuesday

12 Jan 2016 Evaluate

Indian rupee weakened against dollar in early deals on Tuesday, influenced by safe haven demand for the greenback. Turmoil in Chinese equities also took a toll on the emerging market currencies. However, a higher opening in the domestic equity market, capped some losses. On the global front, the dollar edged down against the euro and yen in Asian trade on Tuesday, moving back toward a more than four-month low against the perceived safe-haven Japanese currency as crude oil prices continued to tumble.

The partially convertible currency is currently trading at 66.91, weaker by 10 paise from its previous close of 66.81 on Monday. The currency touched a high and low of 66.9250 and 66.70 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.78 and for Euro stood at 72.92 on January 11, 2016. While, the RBI’s reference rate for the Yen stood at 56.93 the reference rate for the Great Britain Pound (GBP) stood at 97.0570. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
January 11, 201666.788597.0570
January 08, 2016 66.669097.4501
(RBI-Reference Rate)

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