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Indian rupee plunges to 32 months low

15 Nov 2011 Evaluate

Indian rupee plunged further on Tuesday near to its 32 months low impacted by the steep fall in the domestic equity markets. The domestic currency remained weak since start on global risk aversion and fear of fund outflow. On the global front too, the sentiments remained weak as the euro fell on Tuesday, coming close to recent lows versus the dollar and hit a one-month low against the yen as rises in euro zone bond yields underscored the difficulties facing policymakers in containing the region's debt crisis.

Finally the rupee ended at 50.67, weaker by 37 paise from its previous close of 50.30 on Monday. It has touched a high and low of 50.7400 and 50.4250 respectively. The Reserve Bank of India's reference rate for the dollar stood at Rs 50.5645 and for Euro it stood at 68.7875 on November 15, 2011. While, the RBI's reference rate for the Yen stood at 65.60 and the reference rate for the Great Britain Pound (GBP) stood at 80.2990. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

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