Indian rupee, after making a flat start, has strengthened on Monday tailing the gains of local equities and losses of dollar against other Asian currencies. However, further uptrend of the Indian currency, which depreciated to month low level in previous trading session, looks limited on account of importers demand for greenback. On the global front, euro regained more ground on the dollar in Asia on Monday, having rebounded from a five-month trough, but trading was anything but energetic thanks to a holiday in Japan and amid concerns that geopolitical tensions could flare up at any time.
The partially convertible currency is currently trading at 60.20, stronger by 7 paise from its previous close of 60.27 on Friday. The currency has touched a high and low of 60.25 and 60.16 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 60.33 and for Euro stood at 81.58 on July 18, 2014. While, the RBI’s reference rate for the Yen stood at 59.54, the reference rate for the Great Britain Pound (GBP) stood at 103.1824. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| July 18, 2014 | 60.33 | 103.1824 |
| July 17, 2014 | 60.14 | 103.0019 |
(RBI-Reference Rate)
