Indian rupee fell against American currency on Wednesday on the back of dollar's gains against other currencies as hopes for further monetary stimulus in the United States waned, prompting traders to cut short-dollar positions and hurting demand for riskier assets like equities. However surge in dollar demand from local oil importers, the biggest buyers of dollars in the domestic currency market, ahead of local market holidays on Thursday and Friday is also seen hurting the rupee. Weak opening in the stock market also put pressure on the rupee.
The partially convertible currency is currently trading at 51.04, weaker by 32 paise from its previous close of 50.72 on Tuesday. It has touched a high and a low of 51.12 and 50.92 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 50.56 and for Euro it stood at Rs 67.48 on April 3, 2012. While, the RBI's reference rate for the Yen stood at 61.63 the reference rate for the Great Britain Pound (GBP) stood at 81.0498. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
April 3, 2012 | 50.56 | 81.0498 |
March 30, 2012 | 51.15 | 81.7992 |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: