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Indian rupee rebounds on foreign fund inflows

13 Feb 2012 Evaluate

The Indian rupee bounced back on Monday and trading firm due to foreign fund investments after the last session’s loss on import payments for oil. Investors were keen on watching the situation in Greece for direction on fund flows. Meanwhile market is also awaiting inflation data due on Tuesday for clues on the Reserve Bank of India's rate action. Volatility in local share restricted the rupee gains. However Asian shares and the euro gained moderately on Monday, relieved by the Greek parliament’s passage of austerity measures which put the country a step closer to securing a much-needed bailout fund and avoiding a messy default.

The partially convertible currency is currently trading at 49.29, stronger by 12 paise from its previous close of 49.41 on Friday. It has touched a high and a low of 49.53 and 49.2500 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 49.6445 and for Euro it stood at Rs 65.7995 on February 10, 2012. While, the RBI's reference rate for the Yen stood at 63.94 the reference rate for the Great Britain Pound (GBP) stood at 78.3539. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
February 10, 201249.644578.3539
February 9, 201249.289578.0992
(RBI-Reference Rate)

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