Indian rupee, after making a flat start, gained a lot of ground and was trading strong against dollar on Wednesday tailing massive gains of local equities. Additionally, strength of other Asian currencies against dollar also added to the positive milieu for the local currency. However, some dollar demand from oil importers and foreign banks on behalf of their clients, were limiting further upside of the local unit. On the global front, dollar rose on Tuesday to a one-week high against the yen as data showed Chinese economic growth slowed less than many had feared and traders speculated whether the Bank of Japan could ease policy, curbing demand for the safe-haven Japanese currency.
The partially convertible currency is currently trading at 61.54, stronger by 16 paise from its previous close of 61.70 on Tuesday. The currency touched a high and low of 61.71 and 61.54 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 61.84 and for Euro stood at 71.56 on January 20, 2015. While, the RBI’s reference rate for the Yen stood at 52.23, the reference rate for the Great Britain Pound (GBP) stood at 93.2660. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| January 20, 2015 | 61.84 | 93.2660 |
| January 19, 2015 | 61.69 | 93.4123 |
(RBI-Reference Rate)
