Indian rupee pared all early gains and currently trading under pressure against dollar on Thursday. Supported by Federal Reserve Chairman Ben S. Bernanke wordings that he is prepared to do more to stimulate American growth if needed, rupee extended gains in early trade session ignoring affects of S&P outlook rating cut but dollar buying from oil importers capped local currency’s northward journey. However gains in euro and other currencies against the American currency, a higher opening in the equity market limiting rupee’s losses.
The partially convertible currency is currently trading at 52.58, weaker by 4paise from its previous close of 52.54 on Wednesday. It has touched a high and low of 52.58 and 52.43 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 52.49 and for Euro it stood at Rs 69.25 on April 25, 2012. While, the RBI's reference rate for the Yen stood at 64.50 the reference rate for the Great Britain Pound (GBP) stood at 84.6583. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
April 25, 2012 | 52.49 | 84.6583 |
April 24, 2012 | 52.79 | 85.1704 |
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