Indian rupee, hovering near ten months high level, was leading gains among emerging Asian currencies on Tuesday, as exit polls suggested victory of pro-reform and business-friendly opposition party in elections. However, further appreciation of Indian currency from these levels look unlikely given authorities may intervene to curb strength in the second-best performing emerging Asian currency so far this year. On the global front, euro stabilized near one-month lows against the dollar on Tuesday, although bit under pressure on hopes the European Central Bank would try to limit its longer-term strength in a bid to boost the euro-zone economy.
The partially convertible currency is currently trading at 59.91, stronger by 14 paise from its previous close of 60.05 on Monday. The currency touched a high and low of 59.91 and 59.59 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 59.72 and for Euro stood at 82.22 on May 12, 2014. While, the RBI’s reference rate for the Yen stood at 58.60, the reference rate for the Great Britain Pound (GBP) stood at 100.8166. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| May 12, 2014 | 59.72 | 100.8166 |
| May 09, 2014 | 60.05 | 101.6534 |
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