Indian rupee, after taking a breather in previous trading session, resumed its southbound journey tracing the strength of dollar in the overseas market. However, further fall in local currency has been limited on account of dollar sales by exporters, while slender gains of local equities also were aiding the sentiment to some extent. Additionally, Reserve Bank of India to is expected to step in to check any spikes in the pair. On the global front, U.S. dollar held onto modest gains early on Wednesday, having risen broadly after U.S. consumer prices recorded their largest increase in more than a year in May.
The partially convertible currency is currently trading at 60.11, weaker by 7 paise from its previous close of 60.04 on Tuesday. The currency touched a high and low of 60.32 and 60.06 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 60.36 and for Euro stood at 81.86 on June 17, 2014. While, the RBI’s reference rate for the Yen stood at 59.21, the reference rate for the Great Britain Pound (GBP) stood at 102.4807. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| June 17, 2014 | 60.36 | 102.4807 |
| June 16, 2014 | 60.00 | 101.9980 |
