Indian Rupee, after making a substantially strong start, gave up some of its ground, but was holding strong against dollar on Wednesday on account of gains of local equities, which hit an all time high level in early deals. However, importers' dollar demand to meet month-end payment commitments dragged the local currency from a week high level scaled in the early deals. On the global front, dollar held close to a six-week peak against a basket of currencies in Asian trade on Wednesday, as the euro edged down to touch a fresh 2014 low on the diverging interest rate outlook for the U.S. and euro zone.
The partially convertible currency is currently trading at 60.16, stronger by 9 paise from its previous close of 60.25 on Tuesday. The currency touched a high and low of 60.19 and 60.11 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 60.23 and for Euro stood at 81.44 on July 22, 2014. While, the RBI’s reference rate for the Yen stood at 59.32, the reference rate for the Great Britain Pound (GBP) stood at 102.8650. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| July 22, 2014 | 60.23 | 102.8650 |
| July 21, 2014 | 60.18 | 102.8687 |
(RBI-Reference Rate)
