Indian rupee, after making a weak start, recouped all its losses and was trading strong against dollar on Monday tailing modest gains of local equities at the start of holiday truncated week. However, the currency could lose ground going further in the session on account of incremental month end, quarter end demand for dollar by oil importers. On the global front, euro probed fresh two-year lows early on Monday in a subdued start to a holiday-shortened week, extending a multi-month trend of weakness against the dollar that many traders say will remain intact in the new year.
The partially convertible currency is currently trading at 63.14, stronger by 16 paise from its previous close of 63.30 on Friday. The currency touched a high and low of 63.31 and 63.13 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.06 and for Euro stood at 77.45 on December 19, 2014. While, the RBI’s reference rate for the Yen stood at 52.80, the reference rate for the Great Britain Pound (GBP) stood at 98.7314. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| December 19, 2014 | 63.06 | 98.7314 |
| December 18, 2014 | 63.31 | 98.6781 |
(RBI-Reference Rate)
