Indian rupee, after making a tad better start has added more substantial ground and trading strong against dollar on Tuesday amidst sustained overseas capital inflows, while fresh selling of American currency by exporters was also aiding the sentiment. Meanwhile, reports which suggested of exchequer raising at least Rs 64,840 crore from spectrum sale in February, in a move which will help the government reaching its fiscal deficit target of 4.1% of the GDP added to the positive milieu for Indian currency. On the global front, euro wallowed near a nine year trough early on Tuesday, keeping up a wobbly start to 2015 as the prospect of more policy easing from the European Central Bank grew ever stronger
The partially convertible currency is currently trading at 63.33, stronger by 9 paise from its previous close of 63.42 on Monday. The currency touched a high and low of 63.45 and 63.31 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.38 and for Euro stood at 75.66 on January 05, 2014. While, the RBI’s reference rate for the Yen stood at 52.61, the reference rate for the Great Britain Pound (GBP) stood at 96.8454. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| January 05, 2014 | 63.38 | 96.8454 |
| January 02, 2014 | 63.28 | 98.3872 |
(RBI-Reference Rate)
