Indian rupee, snapping two straight sessions of losses recovered a bit of ground on Tuesday, on increased selling of the American currency by exporters amidst fall in global crude oil prices. Besides, strengthening of the euro and yen against the dollar in overseas market and higher domestic equities also supported the Indian currency. However, any sharp uptrend of local unit looks unlikely as month-end dollar demand for the greenback from importers may temper gains. On the global front, dollar-bloc currencies held onto gains on Tuesday, having outperformed their G3 peers on optimism about Chinese growth.
The partially convertible currency is currently trading at 60.12, stronger by 8 paise from its previous close of 60.20 on Monday. The currency touched a high and low of 60.18 and 60.08 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 60.19 and for Euro stood at 81.90 on June 23, 2014. While, the RBI’s reference rate for the Yen stood at 59.05, the reference rate for the Great Britain Pound (GBP) stood at 102.5623. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| June 23, 2014 | 60.19 | 102.5623 |
| June 20, 2014 | 60.27 | 102.7688 |
