Indian rupee depreciated against dollar after two sessions of upward journey on Wednesday amid fresh dollar demand from banks and importers. Flat local shares also added some pressure to the rupee. The investors booked profits on the back of recent gains, as weak US energy demand supported the market condition despite concerns over the situation in Iran and Nigeria. Currency Market is still hoping for the government's decision to liberalize single-brand retail sector, which will boost dollar inflows. Meanwhile, crude oil prices slid 54 cents to $101.70 per barrel in early Asian trade.
The partially convertible rupee is currently trading at 51.81, weaker by 10 paise from its previous close of 51.71 on Tuesday. It has touched a high and a low of 51.89 and 51.63 respectively. The Reserve Bank of India's reference rate for the dollar stood at 52.2255 and for Euro it stood at 66.7978 on January 10, 2012. While, the RBI's reference rate for the Yen stood at 67.99 and the reference rate for the Great Britain Pound (GBP) stood at 80.8399. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| January 10, 2012 | 52.2255 | 80.8399 |
| January 09, 2012 | 52.7325 | 81.3399 |
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