Rupee depreciates by 12 paise against US dollar

The currency touched a high and low of 65.67 and 65.71 respectively.

Indian Rupee today opened at 65.38/$ in early trade on Monday. On the global front, the US markets had ended weak and Asian markets are showing a mixed trend with a  negative bias. China PMI fell for the eighth month in a row though it was less severe than September.The preliminary Caixin China manufacturing PMI stood at 48.3 in October, which was better than expectations.Growing perception of US Federal Reserve hiking interest rates in December has changed the complexion of the game. Fed at its policy meeting indicated a possibility of a rate hike in December.

The currency touched a high and low of 65.67 and 65.71 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 65.22 and for Euro stood at 71.66 on October 30, 2015. While, the RBI’s reference rate for the Yen stood at 53.92, the reference rate for the Great Britain Pound (GBP) stood at 99.9348.