Rupee weakens against dollar in early deals on Thursday

Indian rupee weakened against dollar in early deals on Thursday, in line with the weak trend seen in most Asian currency markets. The rupee fell further on fresh demand for the American currency from importers and banks. However, a higher opening in the domestic equity market capped the losses. On the global front, the euro wavered on Thursday, well off its overnight peak as investors adjusted their position ahead of a policy meeting by the European Central Bank later in the day.

The partially convertible currency is currently trading at 66.25, weaker by 3 paise from its previous close of 66.22 on Wednesday. The currency touched a high and low of 66.3250 and 66.2250 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.24 and for Euro stood at 75.27 on April 20, 2016. While the RBI’s reference rate for the Yen stood at 60.82, the reference rate for the Great Britain Pound (GBP) stood at 95.2076. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

(RBI-Reference Rate)