Rupee resumed its weakening streak on Monday, hovering near a record low hit last week, as worries about China's economic and financial stability hit global risk assets. Increasing dollar demand from importers and local equity markets’ weakness pressurized domestic currency. Meanwhile, investors were cautious ahead of current account deficit data due this week, which will be key source of stress in the rupee. Dollar’s gains against other currencies in the global markets also dragged rupee down.
The partially convertible currency is currently trading at 59.62, weaker by 36 paise from its previous close of 59.26 on Friday. The currency touched a high and low of 59.70 and 59.55 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at Rs 59.35 and for Euro it stood at Rs 78.59 on June 21, 2013. While, the RBI’s reference rate for the Yen stood at 60.72, the reference rate for the Great Britain Pound (GBP) stood at 92.1120. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Date | 1US$ | 1GBP |
June 21, 2013 | 59.35 | 92.1120 |
June 20, 2013 | 59.70 | 92.2186 |
(RBI-Reference rate)
