Indian rupee was treading water on Monday as losses on account of slide in local equities were offset by dollar’s fall versus most other Asian currencies. Upbeat news from China's factory sector which fuelled appetite for riskier assets mainly arrested any kind of slide in local currency. Additionally, positive sentiments on account of unpopular measure like a steep hike in railway passenger and freight fares in possibly the first installment of the "tough measures" Prime Minister Narendra Modi had hinted at as necessary to revive the Indian economy, aided the sentiment. On the global front, euro dipped ever so slightly early on Monday in the wake of dovish comments from the European Central Bank but investors struggled for conviction ahead of a report on China's manufacturing sector.
The partially convertible currency is currently trading at 60.19, almost unchanged from its previous close of 60.18 on Friday. The currency has touched a high and low of 60.21 and 60.05 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 60.27 and for Euro stood at 82.12 on June 20, 2014. While, the RBI’s reference rate for the Yen stood at 59.17, the reference rate for the Great Britain Pound (GBP) stood at 102.7688. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| June 20, 2014 | 60.27 | 102.7688 |
| June 19, 2014 | 60.00 | 102.0473 |
