Indian rupee after making a strong start, appreciated substantially on Tuesday after weaker than expected US retail sales data encouraged view of an extended period of low US interest rates, which in turn bolstered risk-appetite for all the emerging markets’ assets, including Indian currency. Additionally, weaker than expected March WPI data also aided the sentiment. On the macro-front, extending its disinflationary trend, the annual rate of inflation, based on monthly wholesale price index (WPI) ebbed to- 2.33% in March as compared to -2.06% witnessed in February. However, negative local equities restricted further gains of Indian currency. On the global front, dollar took some back lost ground after a surprisingly weak US retail report, while the Australian dollar edged lower on Wednesday after downbeat Chinese economic data.
The partially convertible currency is currently trading at 62.40, stronger by 12 paise from its previous close of 62.52 on Tuesday. The currency touched a high and low of 62.44 and 62.38 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 62.38 and for Euro stood at 66.13 on April 13, 2015. While, the RBI’s reference rate for the Yen stood at 51.83, the reference rate for the Great Britain Pound (GBP) stood at 91.0560. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| April 13, 2015 | 62.38 | 91.0560 |
| April 10, 2015 | 62.36 | 91.6032 |
(RBI-Reference Rate)
