Indian rupee after making a weak start, although has recouped some of its losses, but continued to trade weak against dollar on Tuesday due to increased demand for the US currency from importers in view of its strength overseas. Additionally, negative local equities also weighed on the sentiment. Nevertheless, prevailing caution ahead of consumer inflation data, which is expected to be released later this week, also prevented appreciation of Indian currency. On the global front, dollar steadied on Tuesday after recouping some of its post-payrolls losses as an uptick in risk appetite sent U.S. Treasury yields higher and underpinned Wall Street stocks.
The partially convertible currency is currently trading at 61.55, weaker by 5 paise from its previous close of 61.50 on Monday. The currency touched a high and low of 61.60 and 61.52 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 61.45 and for Euro stood at 76.67 on November 10, 2014. While, the RBI’s reference rate for the Yen stood at 53.86, the reference rate for the Great Britain Pound (GBP) stood at 97.7567. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| November 10, 2014 | 61.45 | 97.7567 |
| November 07, 2014 | 61.52 | 97.3931 |
(RBI-Reference Rate)
