Indian rupee, extending previous session’s appreciating streak, was trading stronger, reportedly on account of RBI’s intervention, who brought dollars via state run banks in order to arrest the slide of Indian currency. Additionally, strength of local equities also was aiding the sentiment. However, strength of American currency overseas limited further appreciation of Indian currency. On the global front, the dollar started trade in Asia on Monday on the defensive, after a volatile few days in the wake of Federal Reserve’s dovish comments, which cast doubts on a June rate increase and bullish positions in the greenback.
The partially convertible currency is currently trading at 62.26, stronger by 21 paise from its previous close of 62.47 on Friday. The currency touched a high and low of 62.37 and 62.26 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 62.49 and for Euro stood at 66.80 on March 20, 2015. While, the RBI’s reference rate for the Yen stood at 51.79, the reference rate for the Great Britain Pound (GBP) stood at 92.2636. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| March 20, 2015 | 62.49 | 92.2636 |
| March 19, 2015 | 62.42 | 92.9945 |
(RBI-Reference Rate)
