Indian rupee despite soaring to highest level in more than week, is facing stiff resistance near its psychological ‘55/$’ mark on Thursday. Enhancement of global risk appetite on expectations that European Central Bank and the U.S. Federal Reserve are prepared to take steps to revitalize the global economy, besides shoring up the Asian currency, also buoyed the sentiment of home currency, with mild greenback sales by a few custodian banks adding to the optimism. Dollar buying from oil importers, however, have kept a check on the appreciation on the Indian currency. On the global front, euro held firm against the dollar on Thursday, as unclear hopes of more policy action, both in Europe and the United States, led short-term players to reverse their massive bets against the currency.
The partially convertible currency is currently trading at 55.11, stronger by 25 paise from its previous close of 55.36 on Tuesday. It has touched a high and low of 55.30 and 55.07 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 55.49 and for Euro it stood at Rs 69.30 on June 6, 2012. While, the RBI’s reference rate for the Yen stood at 70.40, the reference rate for the Great Britain Pound (GBP) stood at 85.5773. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
June 6, 2012 | 55.49 | 85.5773 |
June 5, 2012 | 55.56 | 85.5175 |
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