Indian rupee, gaining ground for fifth straight session, was trading stronger against dollar on Tuesday reacting positively to the release of key economic data. i.e. November IIP and December CPI data released after market hours of trade. On the macro-front, the index for IIP for the month of November hit a five month high of 3.8% at 169.8, higher than street’s expectation of figure of over 2%, while, India’s Consumer Price Index (CPI), snapping four consecutive month easing trend, edged higher to 5% in December as compared 4.38% in November. However, the number was way lower than street expected figure of ‘5.20%. Besides, dollar’s weakness against basket of other major currencies and gains of local equities, albeit slender were also aiding the sentiment. On the global front, dollar skidded to its lowest level against the yen in a month on Tuesday, as Treasury yields fell on increased demand for safe-haven assets against a backdrop of plunging oil prices.
The partially convertible currency is currently trading at 62.09, stronger by 7 paise from its previous close of 62.16 on Monday. The currency touched a high and low of 62.13 and 62.04 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 62.16 and for Euro stood at 73.73 on January 12, 2014. While, the RBI’s reference rate for the Yen stood at 52.62, the reference rate for the Great Britain Pound (GBP) stood at 94.2788. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| January 12, 2014 | 62.16 | 94.2788 |
| January 09, 2015 | 62.39 | 94.1670 |
