Indian rupee trading marginally lower against dollar as inflows from foreign investors were balanced by dollar demand from importers, as they have increased their dollar purchases in the past few days to clear outstanding import payments to Iran as quickly as possible as a result of tightening Western sanctions. However volatility in the equity markets also affected the local currency. Meanwhile trading activity in the currency market was thin in the absence of major news and rupee was stuck in a tight trading band.
The partially convertible currency is currently trading at 49.26, weaker by 2 paise from its previous close of 49.24 on Wednesday. It has touched a high and a low of 49.3000 and 49.2350 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 49.24 and for Euro it stood at Rs 65.1638 on February 22, 2012. While, the RBI's reference rate for the Yen stood at 61.53 the reference rate for the Great Britain Pound (GBP) stood at 76.7485. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
February 22, 2012 | 49.24 | 76.7485 |
| February 21, 2012 | 49.08 | 77.7973 |
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