Indian rupee, after making a weak start, continue to depreciate
against dollar on Thursday tailing negative local equities, weaker Asian
counterparts and increased demand for the US currency from importers,
which weighed on the sentiment of Indian currency. Besides, the dollar's
strength against other currencies overseas put pressure on the rupee.
On the global front, dollar held near a four-year high against a basket
of major currencies on Friday, with its near-term fortunes hinging on
whether U.S. jobs data will add to or temper optimism about the U.S.
economy's outlook.
The partially convertible currency is currently
trading at 61.52, weaker by 10 paise from its previous close of 61.42
on Wednesday. The currency has touched a high and low of 61.57 and 61.49
respectively. The Reserve Bank of India’s (RBI) reference rate for the
dollar stood at 61.38 and for Euro stood at 76.98 on November 05, 2014.
While, the RBI’s reference rate for the Yen stood at 57.36, the
reference rate for the Great Britain Pound (GBP) stood at 98.0043. The
reference rates are based on 12 noon rates of a few select banks in
Mumbai.
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