Indian rupee, after taking a bit of breather in the previous trading session, yet again resumed its losing streak with vigor on Friday on account of dollar’s strength against the basket of other major currencies. Besides sluggish trend of local equities, weaker euro also weighed on the sentiment. The currency in the previous session took a hit for the worst, only to recover later, after reports suggested of Reserve Bank of India moving a part of dollar demand of oil marketing companies (OMCs) to the market. Although recovery came to the Indian currency by the close yesterday, the underlying weakness of Indian currency was reflected in yet another session. In the global market, the euro struggled in early Asian trade after the ECB's surprise interest rate cut sent the single currency plunging to near eight-week lows, but the dollar's gains were tempered ahead of the key U.S. payrolls report later on Friday.
The partially convertible currency is currently trading at 62.72, weaker by 30 paise from its previous close 62.42 on Thursday. The currency touched a high and low of 62.72 and 62.60 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 62.57 and for Euro it stood at 84.62 on November 7, 2013. While, the RBI’s reference rate for the Yen stood at 63.46, the reference rate for the Great Britain Pound (GBP) stood at 100.6252. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| November 7, 2013 | 62.57 | 100.6252 |
| November 6, 2013 | 61.92 | 99.5961 |
