Indian rupee after making a good start was trading strong on Tuesday tracking strength in most Asian currencies on account of weakness of dollar overseas. Additionally, dollar sales by banks and exporters aided the sentiment. Besides, strength of local equities also added to the optimistic environment. On the global front, dollar fell across the board on Monday as investors fretted that it is recent rapid rise could prompt the Federal Reserve to be little more cautious about raising interest rates this year.
The partially convertible currency is currently trading at 62.71, stronger by 10 paise from its previous close of 62.81 on Monday. The currency touched a high and low of 62.80 and 62.67 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 62.82 and for Euro stood at 66.19 on March 16, 2015. While, the RBI’s reference rate for the Yen stood at 51.84, the reference rate for the Great Britain Pound (GBP) stood at 92.8250. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| March 16, 2015 | 62.82 | 92.8250 |
| March 13, 2015 | 62.67 | 93.1639 |
(RBI-Reference Rate)
