Indian rupee, after making a weak start, although recouped some of its ground, yet was trading tad weak on Wednesday tailing the gains of local equities which were hopes of RBI reducing interest rates in its upcoming monetary policy on June 2, 2015. Nevertheless, losses of other Asian currencies and dollar demand from banks and oil importers mainly weighed on the sentiment. On the global front, dollar hit two month high versus the yen on Wednesday after strong housing data offered signs that US economy may be recovering from a weak first quarter.
The partially convertible currency is currently trading at 63.73, weaker by 5 paise from its previous close of 63.68 on Tuesday. The currency touched a high and low of 63.78 and 63.66 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.68 and for Euro stood at 71.90 on May 19, 2015. While, the RBI’s reference rate for the Yen stood at 53.09, the reference rate for the Great Britain Pound (GBP) stood at 99.7272. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Date | 1US$ | 1GBP |
May 19, 2015 | 63.68 | 99.7272 |
May 18, 2015 | 63.55 | 99.8629 |
(RBI-Reference Rate)