Indian rupee after making a good start, although pared some of its gains, continued trading near two months high level on Thursday on sustained selling of dollar by banks and exporters in view of dollar’s weakness overseas. Additionally, splendid gains of local equities also aided the sentiment. On the global front, dollar plunged across the board on Wednesday after the Federal Reserve signaled an interest rate increase as early as June but slashed interest-rate projections over the next few years and downgraded its outlook for the U.S. economy.
The partially convertible currency is currently trading at 62.43, stronger by 26 paise from its previous close of 62.69 on Wednesday. The currency touched a high and low of 62.46 and 62.35 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 62.67 and for Euro stood at 66.33 on March 18, 2015. While, the RBI’s reference rate for the Yen stood at 51.64, the reference rate for the Great Britain Pound (GBP) stood at 92.4600. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| March 18, 2015 | 62.67 | 92.4600 |
| March 17, 2015 | 62.69 | 92.9910 |
(RBI-Reference Rate)
