Wednesday 24 June 2015

Carry Forward! Rupee trades weak on Wednesday

The rupee is currently trading at 63.69/$, weaker by 10 paise from its previous close of 63.59/$ on Monday. 

Rupee weak
Indian rupee, carrying over previous sessions’ weakness was trading weak against dollar on Wednesday due to weakness of other Asian counterparts. Besides, fresh demand for the American unit from importers in view of strength of dollar index against the basket of other currency also weighed on the sentiment. However, gains in local equities restricted further slide of Indian currency. On the global front, dollar hovered near its highest mark ​in over a week as the market's focus shifted from Greece to prospects ​regarding US interest rates.

The rupee is currently trading at 63.69/$, weaker by 10 paise from its previous close of 63.59/$ on Monday. The currency touched a high and low of 63.63/$ and 63.70/$ b respectively.    The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.64​​ and for Euro stood at 71.62 on June 23, 2015. While, the RBI’s reference rate for the Yen stood at 51.46, the reference rate for the Great Britain Pound (GBP) stood at 100.4121. 

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