Indian rupee, after making a weak start and hitting its lowest since March 24, was consolidating against dollar in early afternoon deals on Tuesday on prevailing caution about ongoing national elections, with Mumbai set to go to the polls on Thursday. The currency hit a month low level in early deals, hurt by good dollar demand from oil and gas importers and as tensions in Ukraine kept global markets on the edge, nevertheless, gains of local equities too some extent were restricted further losses of Indian currency. On the global front, dollar inched up to fresh two-week highs against basket of major currencies on Tuesday, following a subdued session overnight with many global financial centres shut for the Easter long-weekend.
The partially convertible is currently trading at 60.64, little changed from its previous close of 60.60 on Monday. The currency touched a high and low of 60.80 and 60.61 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 60.33 and for Euro stood at 83.38 on April 21, 2014. While, the RBI’s reference rate for the Yen stood at 58.85, the reference rate for the Great Britain Pound (GBP) stood at 101.4050. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| April 21, 2014 | 60.33 | 101.4050 |
| April 17, 2014 | 60.38 | 101.6325 |
(RBI-Reference Rate)
