The Indian rupee strengthen further on Friday after yesterday’s holiday in the forex market on account of municipal corporation elections as the prospect for capital inflows got a boost from stronger U.S. economic data and indications for a Greece bailout. However, positive rally in the local equity markets also added gains to the rupee. Meanwhile higher global oil prices were limiting the rupees up move as demand for dollars will go up if prices stayed high. India imports about 80% of the oil it consumes and the refiners are the biggest buyers of dollars.
The partially convertible currency is currently trading at 49.20, stronger by 10 paise from its previous close of 49.30 on Wednesday. It has touched a high and a low of 49.30 and 49.16 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 49.25 and for Euro it stood at Rs 64.8900 on February 15, 2012. While, the RBI's reference rate for the Yen stood at 62.76 the reference rate for the Great Britain Pound (GBP) stood at 77.4537. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| February 15, 2012 | 49.25 | 77.4537 |
| February 14, 2012 | 49.33 | 77.4101 |
(RBI-Reference Rate)
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