Indian rupee after snapping five consecutive sessions’ depreciating streak in previous trading session continued trading strong on Monday tracking gains in local equities. However, weakness in other Asian currencies against dollar limited further rise of local unit. Nevertheless, continued selling of the American currency by exporters also supported the positive sentiment for Indian currency. On the global front, dollar stood little changed against its peers after mixed US jobs data failed to offer much of a buying incentive, while sterling stood tall after a surprise British election victory by Conservative Party.
The partially convertible is currently trading at 63.89, stronger by 5 paise from its previous close of 63.94 on Friday. The currency touched a high and low of 63.89 and 63.76 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 64.04 and for Euro stood at 71.76 on May 8, 2015. While, the RBI’s reference rate for the Yen stood at 53.41, the reference rate for the Great Britain Pound (GBP) stood at 99.0394. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| May 8, 2015 | 64.04 | 99.0394 |
| May 7, 2015 | 63.88 | 97.2062 |
(RBI-Reference Rate)
