Indian rupee, after making a weak start, recouped a lot of ground and was trading tad strong against dollar on Thursday as hopes of continued foreign fund inflows into local stocks offset broad dollar strength. However, sustained dollar demand from banks and oil importers combined with losses in local equities limited further appreciation of Indian currency. On the global front, euro wallowed near its weakest level in over 11 years against the dollar on Thursday as investors waited for European Central Bank to announce more details of its massive bond buying programme.
The partially convertible currency is currently trading at 62.22, tad strong from its previous close of 62.26 on Wednesday. The currency touched a high and low of 62.33 and 62.17 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 61.85 and for Euro stood at 69.09 on March 4, 2015. While, the RBI’s reference rate for the Yen stood at 51.70, the reference rate for the Great Britain Pound (GBP) stood at 94.9649. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| March 4, 2015 | 61.85 | 94.9649 |
| March 3, 2015 | 61.83 | 95.1388 |
(RBI-Reference rate)
