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Indian rupee declines further tailing euro weakness

26 Sep 2011 Evaluate

Indian rupee continue to trade weak in the new week, mainly due to the dollar gains against the euro and other major currencies overseas and also due to weakness in the local stock market. Euro fell to its lowest in last ten years against the yen on Monday as European leaders are still working on new ways to stop the fallout from the euro zone sovereign debt crisis.

The partially convertible currency is currently trading at 49.49, weaker by 7 paise from its previous close of 49.42 on Friday. It touched a high and low of 49.6700 and 49.3350 respectively. The Reserve Bank of India'sreference rate for the dollar stood at 49.67 and for Euro it stood at 66.98 on September 23, 2011. While, the RBI's reference rate for the Yen stood at 65.10 and the reference rate for the Great Britain Pound (GBP) stood at 76.5064. Thereference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
September 23, 201149.6776.5064
September 22, 201148.8275.4814
(RBI-Reference Rate)

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