Rupee despite some recovery could not manage a close of green on Monday and extended its fall owing to month end dollar demand from importers, especially the oil traders. Though, the currency posted the best month in year, but remained cautious ahead of the first quarter CAD data, to be announced later in the day with expectation of the gap to widen from the March quarter. The equity market weakness too weighed on the sentiments of the currency. In the global markets, the dollar remained weak, as a deadline to avert a government shutdown kept looming large, while the euro was weighed down by an increasingly volatile Italian political crisis.
Finally the rupee ended at 62.60, weaker by 10 paise from its previous close of 62.50 on Friday. The currency has touched a high and low of 63.00 and 62.50 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 62.77 and for Euro it stood at 84.67 on September 30, 2013. While, the RBI’s reference rate for the Yen stood at 64.15, the reference rate for the Great Britain Pound (GBP) stood at 101.4162. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
