Indian rupee, after strengthening a bit in previous trading session, resumed its depreciating streak and was trading at highest level since July 22 on Thursday on account of incremental month-end dollar demand from oil importers and banks to fulfill their obligations. Additionally, negative local equities on final F&O expiry session, also were weighing on the sentiment. On the global front, dollar was still oscillating near six-month peak after upbeat U.S. GDP data, but mixed views from the Federal Reserve tempered further rally. Dollar bulls took heart after the U.S. economy rebounded sharply in the second quarter, with gross domestic product (GDP) motoring at a 4.0 percent annualised pace.
The partially convertible currency is currently trading at 60.24, weaker by 17 paise from its previous close of 60.07 on Wednesday. The currency touched a high and low of 60.26 and 60.20 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 60.14 and for Euro stood at 80.63 on July 30, 2014. While, the RBI’s reference rate for the Yen stood at 58.90, the reference rate for the Great Britain Pound (GBP) stood at 101.9216. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| July 30, 2014 | 60.14 | 101.9216 |
| July 28, 2014 | 60.10 | 102.0400 |
(RBI-Reference Rate)
