Indian rupee, losing ground after a good start was trading little changed on Monday on goodish bit of dollar demand from banks and oil importers. However, the currency’s further slide was restricted on account of gains of local equities and strength of other Asian currencies against dollar. The currency after snapping three consecutive sessions’ gaining streak in the previous trading session got off to strong start, but soon lost ground on dollar demand. On the global front, dollar was subdued in Asia, holding largely around where it began this week after an aimless session overnight with holidays in Japan and Britain crimping activity in markets.
The partially convertible currency is currently trading at 60.20, little changed from its previous close of 60.22 on Monday. The currency touched a high and low of 60.22 and 60.10 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 60.04 and for Euro stood at 83.34 on May 05, 2014. While, the RBI’s reference rate for the Yen stood at 58.88, the reference rate for the Great Britain Pound (GBP) stood at 101.3181. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| May 05, 2014 | 60.04 | 101.3181 |
| May 02, 2014 | 60.22 | 101.6839 |
