Currency crash! Rupee plunges past 67 mark against the dollar

The Indian rupee is at a fresh two-year low, down by 21 paise at 67.09/$  in early trade on Monday. This is against the previous close of 66.88/$. Market participants will remain cautious ahead of the key US FOMC policy meeting on December 16th. Although US dollar may have weakened against the basket of major currencies, it is trading on a strong note against the emerging market currencies.

The currency touched a high and low of 67.13 and 67.27 respectively in early trade. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.78 and for Euro stood at 73.10 on December 11, 2015. While, the RBI’s reference rate for the Yen stood at 54.75, the reference rate for the Great Britain Pound (GBP) stood at 101.1006.

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