The Indian rupee falls against dollar on Monday due to increased demand from importers for the American currency after a four-day trading hiatus. Weak opening in the equity market and dollar's gains against other currencies overseas put pressure on the local currency. Investors’ risk appetite got hurt because of renewed worries over global economic growth due to bleak U.S. jobs data last week, which also affected rupee in negatively. Traders also expect the central bank to step in to avert a sharp fall in the rupee.
The partially convertible currency is currently trading at 51.30, weaker by 18 paise from its previous close of 51.12, on Wednesday. It has touched a high and a low of 51.41 and 51.24 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 51.04 and for Euro it stood at Rs 67.39 on April 4, 2012. While, the RBI's reference rate for the Yen stood at 61.75 the reference rate for the Great Britain Pound (GBP) stood at 81.0874. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
April 4, 2012 | 51.04 | 81.0874 |
April 3, 2012 | 50.56 | 81.0498 |
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