Indian rupee, after making a flat start, recouped substantial ground and was holding strong against dollar on Thursday on fresh selling of the US currency by exporters and banks. Besides, gains of local equities, notably ahead of release of February CPI and January IIP data, later in the day also added to the optimistic milieu. On the global front, the dollar stood tall boosted by diverging global monetary policies that sent the greenback to its highest since April 2003 against a basket of six major currencies.
The partially convertible is currently trading at 62.53, stronger by 25 paise from its previous close of 62.78 on Wednesday. The currency touched a high and low of 62.80 and 62.50 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 62.74 and for Euro stood at 67.09 on March 11, 2015. While, the RBI’s reference rate for the Yen stood at 51.74, the reference rate for the Great Britain Pound (GBP) stood at 94.6006. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| March 11, 2015 | 62.74 | 94.6006 |
| March 10, 2015 | 62.69 | 94.5490 |
(RBI-Reference Rate)
