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Rupee weakens on fresh dollar demand from importers
Dec-14-2018

Indian rupee weakened against US dollar on Friday, as the American currency strengthened, while the domestic equity market opened on a weak note. Sentiments remained weak with global credit ratings agency Moody’s statement that liquidity constraints faced by some non-bank financial institutions (NBFIs) will likely tighten overall credit supply and slow India’s economic growth rate to just above 7% for the fiscal 2019 and 2020. Caution ahead of RBI central board meeting under new Governor Shaktikanta Das, too weighed on the local unit. On the global front, the dollar firmed against most major counterparts on Friday as investor focus shifted to an expected USinterest rate hike next week, although gains are likely to be capped on greater uncertainty about next year's policy outlook.

The partially convertible currency is currently trading at 71.75, weaker by 7 paise from its previous close of 71.68 on Thursday. The currency touched a high and low of 71.8200 and 71.7000 respectively. The reference rate for the dollar stood at 71.53 and for Euro stood at 81.34 on December 13, 2018. While the reference rate for the Yen stood at 63.06, the reference rate for the Great Britain Pound (GBP) stood at 90.30.

Date1US$1GBP
December 13, 201871.536890.3095
December 12, 201872.0407 90.0393

(Reference Rate) 


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