Indian rupee, after strengthening the most since November 5, was trading weaker on Thursday on account of month end dollar demand from oil importers. Further, jitters over closure of RBI's special FX swap windows, which have garnered over $25 billion, by November end, also added to the negative milieu. Besides, exchange data, which pointed at FII’s turning out to be net sellers of $7.8 million for Indian equities on Wednesday, added to the pressure. Nevertheless, positive local equities too some extent restricted the further slide of the Indian currency. On the global front, yen clawed back lost ground against the euro and dollar in Asia on Thursday after touching fresh lows against both, its worst monthly performance this year.
The partially convertible is currently trading at 62.36, weaker by 21 paise from its previous close of 62.15 on Wednesday. The currency touched a high and low of 62.40 and 62.26 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 62.36 and for Euro stood at 84.67 on November 27, 2013. While, the RBI’s reference rate for the Yen stood at 61.43, the reference rate for the Great Britain Pound (GBP) stood at 101.1083. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
