Indian rupee, snapping two consecutive sessions’ appreciating streak, was trading weak against dollar on Tuesday tailing weakness of local equities. Meanwhile, fresh dollar demand from oil importers and state run banks in view of its strength overseas also weighed on the currency. Additionally, cautiousness ahead of release of Industrial production figures for the month of March and Retail inflation data for the month of April added to the pessimistic environment. On the global front, dollar firmed against major counterparts on Tuesday as ongoing anxiety over Greece’s debt crisis helped push the euro towards a one week low.
The partially convertible currency is currently trading at 64.19, weaker by 34 paise from its previous close of 63.85 on Monday. The currency touched a high and low of 64.23 and 64.11 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.84 and for Euro stood at 71.51 on May 11, 2015. While, the RBI’s reference rate for the Yen stood at 53.25, the reference rate for the Great Britain Pound (GBP) stood at 98.4687. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| May 11, 2015 | 63.84 | 98.4687 |
| May 8, 2015 | 64.04 | 99.0394 |
(RBI-Reference Rate)
