Indian rupee after depreciating to three-month low level on Thursday continued to languish around those levels on Friday on increased capital outflows amid demand for the American currency from importers. Additionally, colossal losses of local equities also continued to weigh on the sentiment. Besides, the strength of US dollar index, measures against basket of currencies, also added to the pessimistic milieu. On the global front, dollar bulls took a breather on Friday ahead of a closely watched jobs report that has the potential to make or break a rally that saw the greenback post its best monthly performance in over a year.
The partially convertible currency is currently trading at 60.83, weaker by 29 paise from its previous close of 60.54 on Thursday. The currency touched a high and low of 60.90 and 60.69 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 60.24 and for Euro stood at 80.69 on July 31, 2014. While, the RBI’s reference rate for the Yen stood at 58.61, the reference rate for the Great Britain Pound (GBP) stood at 101.9242. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| July 31,2014 | 60.24 | 101.9242 |
| July 30, 2014 | 60.14 | 101.9216 |
(RBI-Reference Rate)
