Indian rupee after depreciating substantially in previous trading session, continued to gyrate around those ‘63.90/$’ levels on Wednesday on incremental month-end dollar demand from oil importers amidst strength of American currency overseas. Additionally, losses of local equities also weighed on the sentiment. However, the currency after depreciating past ‘64/$ level recouped some of the lost ground to trade sub those levels on bit of dollar selling activities by state run bank, speculatively on behalf of RBI. On the global front, dollar held broad gains early on Wednesday, having rallied to an eight year high against the yen after a batch of upbeat data bolstered the case for a US interest rate hike this year.
The partially convertible currency is currently trading at 63.96, little changed from its previous close of 63.98 on Tuesday. The currency touched a high and low of 64.15 and 63.96 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.84 and for Euro stood at 69.64 on May 26, 2015. While, the RBI’s reference rate for the Yen stood at 52.11, the reference rate for the Great Britain Pound (GBP) stood at 98.3788. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| May 26, 2015 | 63.84 | 98.3788 |
| May 25, 2015 | 63.62 | 98.5072 |
(RBI-Reference Rate)
