Rupee weakens against dollar in early deals on Tuesday

Indian rupee weakened against dollar in early deals on Tuesday due to fresh dollar demand from importers. Besides, a weak opening in the domestic equity market too put pressure on rupee. The sentiment weakened further in line with most other Asian currencies, as currency markets across the globe await a speech by the US Federal Reserve chair Janet Yellen scheduled later in the day. However, weakness in the US dollar against major world currencies in the global market limited the rupee fall. On the global front, the euro fell against the dollar amid hopes that the European Central Bank (ECB) may come up with additional quantitative easing measures when its policymakers meet on Thursday.

The partially convertible currency is currently trading at 64.93, weaker by 13 paise from its previous close of 64.80 on Monday. The currency touched a high and low of 64.9650 and 64.9050 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.81 and for Euro stood at 73.74 on October 19, 2015. While, the RBI’s reference rate for the Yen stood at 54.36 the reference rate for the Great Britain Pound (GBP) stood at 100.1176. The reference rates are based on 12 noon rates of a few select banks in Mumbai. 

(RBI-Reference Rate)