Indian rupee, after making substantially good start lost some ground, but continued holding stronger against dollar on Tuesday on the back of gains of local equities, while sustained selling of dollars by exporters in the wake of weakness of American currencies overseas also aided the sentiment. The currency for seventh consecutive session was trading strong against dollar amidst hopes of continued foreign inflows into debt and equity markets. Back in the previous trading session, the local unit appreciated on the back of RBI’s intervention, who reportedly sold dollars via state run banks to lift the currency. On the global front, the dollar edged higher versus a basket of currencies on Tuesday after a top U.S. Federal Reserve official said it should wait no more than a few months before considering an interest rate hike.
The partially convertible currency is currently trading at 62.21, stronger by 6 paise from its previous close of 62.27 on Monday. The currency touched a high and low of 62.23 and 62.18 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 62.28 and for Euro stood at 67.36 on March 23, 2015. While, the RBI’s reference rate for the Yen stood at 51.95, the reference rate for the Great Britain Pound (GBP) stood at 93.0207. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| March 23, 2015 | 62.28 | 93.0207 |
| March 20, 2015 | 62.49 | 92.2636 |
(RBI-Reference Rate)
