Extending its weakness to a fresh week, Indian rupee breached an all time low level on Monday on the back of sluggish local equities, which staged a complete washout after Industry output data dropped to a worst than 28-month low at -5.1 per cent in the month of October. Fears of capital outflows following weak economic data also dented the sentiment for the Indian currency. Meanwhile, positive regional counterparts also failed to cast any positive impact. On the global front, euro fell on Monday and was likely to stay under pressure as funding strains in the euro zone remained unresolved and peripheral bonds faced renewed pressure after EU efforts to tackle the debt crisis failed to reassure investors.
Finally the rupee ended at 52.84, weaker by 37 paise from its previous close of 52.47 on Friday. It touched a high and low of 52.84 and 52.12 respectively. The Reserve Bank of India's reference rate for the dollar stood at Rs 52.42 and for Euro it stood at 69.94 on December 12, 2011. While, the RBI's reference rate for the Yen stood at 67.52 and the reference rate for the Great Britain Pound (GBP) stood at 81.9227. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
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