Indian rupee, appreciating for fourth consecutive session, was trading stronger on Monday on increased selling of the U.S. currency by exporters, while dollar’s weakness against basket of other major currencies also aided the sentiment. Besides, slender gains of local equities also added to the positive environment for Indian currency. Additionally, the currency also took a heart out of Finance Minister’s chief economic adviser, Arvind Subramanian's statement that India’s growth slowdown had bottomed out and the pace of economic expansion was expected to accelerate. On the global front, dollar fell for a second day after an unexpected drop in U.S. wages clouded the outlook for interest rates, and crude oil resumed declines.
The partially convertible currency is currently trading at 62.17, stronger by 15 paise from its previous close of 62.32 on Friday. The currency touched a high and low of 62.19 and 62.09 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 62.39 and for Euro stood at 73.61 on January 09, 2014. While, the RBI’s reference rate for the Yen stood at 52.53, the reference rate for the Great Britain Pound (GBP) stood at 94.1670. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| January 09, 2015 | 62.39 | 94.1670 |
| January 08, 2014 | 62.96 | 94.9731 |
(RBI-Reference Rate)
