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Rupee makes a soft start tailing weakness in peers

10 Mar 2014 Evaluate

Indian rupee after surging to its highest level in more than three months in last session, has made a slightly weak start on Monday, tracking fall in other emerging market currencies after the China’s February exports fell 18.1% on a year-on-year basis, while Japan revised its fourth quarter annualized gross domestic product (GDP) growth to 1.55%, lower than estimates. In the global markets the yen rose across the board early this morning, while the euro was steady against the dollar.

The partially convertible currency is currently trading at 61.33, weaker by 24 paise from its previous close of 61.09 on Friday. The currency touched a high and low of 61.33 and 61.22 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 60.98 and for Euro stood at 84.52 on March 7, 2014. While, the RBI’s reference rate for the Yen stood at 59.22, the reference rate for the Great Britain Pound (GBP) stood at 102.0706. The reference rates are based on 12 noon rates of a few select banks in Mumbai. 

Date1US$1GBP
March 7,201460.98102.0706
March 6,201461.32 102.5402
(RBI-Reference rate)

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