Indian rupee, after taking a breather in previous trading session, appreciated yet again on Wednesday tailing the surge of local equities to record high level. Additionally, strength of other Asian currencies against dollar added to the positive milieu for the local currency. However, some dollar demand from oil importers and foreign banks on behalf of their clients, limited further upside of the local unit. On the global front, yen rebounded against the dollar on Wednesday after the Bank of Japan stood pat on monetary policy, as speculators who had anticipated more easing unwound bets on a weaker currency.
Finally the rupee ended at 61.63, stronger by 7 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 61.61 and for Euro stood at 71.37 on January 21, 2015. While, the RBI’s reference rate for the Yen stood at 52.39, the reference rate for the Great Britain Pound (GBP) stood at 93.4931. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
