Indian rupee, after making a cautious start, was languishing at month’s low level on Friday in absence of any positive trigger and negative local equities. However, the chances are likely that month-end dollar demand from oil importers would push the pair higher later in the session. Nevertheless, sentiments remain cautious ahead of the outcome of the currently underway national elections due on May 16. On the global front, dollar held steady near a one-week low versus the yen on Friday, struggling to gain traction as rising tension in Ukraine undermined optimism about U.S. economic growth.
The partially convertible currency is currently trading at 61.10, weaker by 2 paise from its previous close of 61.08 on Wednesday. The currency touched a high and low of 61.14 and 61.06 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 61.06 and for Euro stood at 84.48 on April 23, 2014. While, the RBI’s reference rate for the Yen stood at 59.51, the reference rate for the Great Britain Pound (GBP) stood at 102.7657. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| April 23, 2014 | 61.06 | 102.7657 |
| April 22, 2014 | 60.71 | 102.0432 |
