Indian rupee breaching 68 mark ended considerably weaker against dollar on Friday as comments by the US Federal reserve chair Janet Yellen, raised concerns regarding a possible hike in interest rates in December policy review. Sentiments weakened further with the private report stated that cash crunch arising out of demonetisation is expected to paralyse economic activity in the short-term, bringing down the 2017-18 GDP growth to 5.8 per cent. On the global front, yen slipped further against the surging dollar, raising prospects for better-than-expected exporters' earnings.
Finally, the rupee ended at 68.12, 29 paise weaker from its previous close of 67.83 on Thursday. The currency touched a high and low of 68.19 and 68.03 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.09 and for Euro stood at 72.21 on November 18, 2016. While the RBI’s reference rate for the Yen stood at 61.56, the reference rate for the Great Britain Pound (GBP) stood at 84.41.The reference rates are based on 12 noon rates of a few select banks in Mumbai.
