Indian Rupee has strengthened a bit more in morning session on Tuesday, following increased selling of the American currency by exporters ahead of RBI’s policy review. However, the major gains were getting restricted due to weak trade in local equity markets and dollars’ gain overseas. In last session the domestic currency had slipped to fresh nine-month low intraday after the GDP growth for second quarter slowed to 5.3 per cent and the government eased curbs on gold imports. In the global markets, the dollar has turned a bit cautious ahead of US data tomorrow that may forecast job growth slowed.
The partially convertible currency is currently trading at 61.96, stronger by 6 paise from its previous close of 62.02 on Monday. The currency touched a high and low of 62.02 and 61.95 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 62.13 and for Euro stood 77.36 on December 1, 2014. While, the RBI’s reference rate for the Yen stood at 52.26, the reference rate for the Great Britain Pound (GBP) stood at 97.0529. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| December 1, 2014 | 62.13 | 97.0529 |
| November 28, 2014 | 61.97 | 97.3667 |
