Monday 15 June 2015

Recovery after a weak start!

The rupee is currently trading at 64.11, weaker by 5 paise from its previous close of 64.06 on Friday. 

Indian rupee after making a weak start, although recouped some lost ground, yet continued trading weak against dollar on Monday on the back of positive trend in local equities. Besides, dollar sales by banks and exporters also aided currency. However, strength of dollar index against the basket of other major currencies restricted appreciation of Indian currency. On the global front, euro lurched lower first thing in Asia on Monday after efforts on ending a deadlock between Greece and its creditors broke up in failure over the weekend.

The rupee is currently trading at 64.11, weaker by 5 paise from its previous close of 64.06 on Friday. The currency touched a high and low of 64.17 and 64.08 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.03 and for Euro stood at 71.89 on June 12, 2015. While, the RBI’s reference rate for the Yen stood at 51.85, the reference rate for the Great Britain Pound (GBP) stood at 99.2723. 

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