Indian rupee, after making a weak start, recouped a lot of ground and was trading strong against dollar on the back of positive local equities, though month end dollar demand from banks and oil importers weighed on the sentiment. Sentiment also were buttressed after rating agency Moody's termed high bids received in spectrum auction as 'credit positive' for India, citing that the proceeds from the sale of airwaves will help the government meet its fiscal deficit target. On the global front, A sudden turnaround in the dollar's fortunes overnight saw the currency trading broadly higher early in Asia on Friday, but still on track to end softer for a second straight week.
The partially convertible currency is currently trading at 62.58, stronger by 10 paise from its previous close of 62.68 on Thursday. The currency touched a high and low of 62.79 and 62.58 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 62.67 and for Euro stood at 68.85 on March 26, 2015. While, the RBI’s reference rate for the Yen stood at 52.75, the reference rate for the Great Britain Pound (GBP) stood at 93.2634. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| March 26, 2015 | 62.67 | 93.2634 |
| March 25, 2015 | 62.34 | 92.6463 |
(RBI-Reference Rate)
