Indian rupee appreciated to-day’s low on dollar sales by custodian bank and splendid gains of local equities after Finance Minister underscored that government will have to take bold decisions to revive economy. However, further uptrend of Indian currency looks unlikely as RBI may step up dollar purchases should foreign fund inflows continue through the day. On the global front, euro slipped from a six-week peak against the dollar on Tuesday, as worries about verbal intervention by the European Central Bank after recent strength in the euro zone common currency tempered buying.
The partially convertible currency is currently trading at 59.93, stronger by 14 paise from its previous close of 60.07 on Tuesday. The currency touched a high and low of 60.09 and 59.92 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 60.13 and for Euro stood at 82.28 on July 01, 2014. While, the RBI’s reference rate for the Yen stood at 59.27, the reference rate for the Great Britain Pound (GBP) stood at 102.8343. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| July 01, 2014 | 60.13 | 102.8343 |
| June 30, 2014 | 60.09 | 102.3269 |
