Indian rupee was trading flat against US dollar ahead of Reserve Bank of India's (RBI) credit policy meeting. Reserve Bank of India (RBI) is widely expected to cut the policy rates by 0.25 percent in its Credit Policy today. Though, increased selling of the American currency by the exporters capped some losses. On global front, dollar index was flat after gaining against most currencies on strong US manufacturing data, while renewed worries of a Greek default contributed to the Euro's weakness.
The partially convertible currency is currently trading flat from its previous close of 63.71 on Monday. The currency touched a high and low of 63.7525 and 63.66 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.60 and for Euro stood at 69.62 on June 1, 2015. While, the RBI’s reference rate for the Yen stood at 51.20, the reference rate for the Great Britain Pound (GBP) stood at 97.2698. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| June 01, 2015 | 63.6083 | 97.2698 |
| May 29, 2015 | 63.7615 | 97.7974 |
(RBI-Reference Rate)
