Indian rupee, slipping past perilous 60/$ level in early deals, depreciated to over a month low level on Monday tracing a surge in crude oil prices which threatened to put pressure on domestic inflation and country's current account deficit. Additionally, lower equities also were weighed on the sentiment. However, hopes that Reserve Bank of India may defend any fall of the local currency beyond 60/$ level, by using its forex reserves which it has been building over past few months to prevent sharp gains in the rupee from hurting export growth, also may provide a floor to local currency’s depreciation. On the global front, dollar dipped versus the yen on Monday, taking a cue from weaker Tokyo equities, although potentially decisive events such as the Federal Reserve meeting midweek limited movements.
The partially convertible currency is currently trading at 59.96, weaker by 19 paise from its previous close of 59.77 on Friday. The currency touched a high and low of 60.05 and 59.84 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 59.47 and for Euro stood at 80.71 on June 13, 2014. While, the RBI’s reference rate for the Yen stood at 58.28, the reference rate for the Great Britain Pound (GBP) stood at 100.9347. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| June 13, 2014 | 59.47 | 100.9347 |
| June 12, 2014 | 59.33 | 99.6834 |
