After opening slightly up, Indian rupee slipped into red against dollar snapping a three-day rally as importers started purchasing American currency to take advantage of the currency’s ascent to a three-week high. Investor’s were disappointed with the adjournment of parliament on Monday again, also pushed the Indian rupee further down. Volatile local equity markets were also contributing the rupee’s fall. Meanwhile, Euro touched six-week highs against the dollar on the back of cheerful Chinese manufacturing data, which helped trigger stop-loss buying of the common currency.
The partially convertible currency is currently trading at 54.62, weaker by 34 paise from its previous close of 54.28 on Friday. The currency touched a high and low of 54.62 and 54.25 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 54.52 and for Euro it stood at Rs 70.88 on November 30, 2012. While, the RBI’s reference rate for the Yen stood at 66.17 the reference rate for the Great Britain Pound (GBP) stood at 87.4823. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
November 30, 2012 | 54.52 | 87.4823 |
November 29, 2012 | 55.34 | 88.2966 |
