Indian rupee, snapping four consecutive sessions’ depreciating streak, appreciated on Friday tracking gains of local equities after consumer prices for January came within market expectations and well below the central bank's inflation target, bolstering prospects for further interest rate cuts. Data showed that consumer prices rose an annual 5.11% compared with a 4.28% gain in December. Besides, dollar selling by banks and exporters also aided the sentiment. On the global front, US dollar was on the defensive against a basket of currencies in early trade after soft US economic data halted in surge against peers such as yen and euro, while the market awaited further developments in Greek debt negotiations.
The partially convertible currency is currently trading at 62.14, stronger by 16 paise from its previous close of 62.30 on Thursday. The currency touched a high and low of 62.17 and 62.04 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 62.43 and for Euro stood at 70.63 on February 12, 2015. While, the RBI’s reference rate for the Yen stood at 51.95, the reference rate for the Great Britain Pound (GBP) stood at 95.0185. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| February 12, 2015 | 62.43 | 95.0185 |
| February 11, 2015 | 62.15 | 94.7221 |
(RBI_Reference Rate)
