Indian rupee, after snapping four consecutive sessions’ depreciating streak in previous trading session, gained some more ground on last trading session of ‘2014’ on Wednesday following fresh dollar selling by exporters and foreign fund inflows in domestic debt. Additionally, strength of local equities along with gains of other Asian currencies also aided the sentiment. Since the beginning of this year, the rupee has weakened 2.49% against the dollar, while FIIs have bought $16.06 billion from local equity markets and $26.35 billion from the debt market. On the global front, dollar was on track to end 2014 with a gain of 12 percent against a basket of major currencies, and anticipated U.S. interest rake hikes may strengthen its appeal in the new year.
The partially convertible currency is currently trading at 63.31, stronger by 7 paise from its previous close of 63.38 on Tuesday. The currency touched a high and low of 63.38 and 63.29 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.74 and for Euro stood at 77.32 on December 30, 2014. While, the RBI’s reference rate for the Yen stood at 53.00, the reference rate for the Great Britain Pound (GBP) stood at 98.8759. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| December 30, 2014 | 63.74 | 98.8759 |
| December 29, 2014 | 63.65 | 99.1409 |
(RBI - Reference Rate)
