Extending a rise into a third month on improving outlook for foreign inflows, Indian rupee kick started the month of August on an optimistic note. Indian currency tailing stronger Asian currency and positive local equities post US President Barack Obama announced that top American lawmakers have reached an agreement to reduce the budgetary deficit and avert a debt default, soared high. However, mild dollar demand from oil companies for their scheduled payments and the euro's weakness could slow the rupee's rise later in the day. On the global front, dollar surged roughly one percent against both the yen and Swiss franc on Monday, extending its bounce after U.S President Barack Obama announced that congressional leaders had reached an agreement to avert a debt default.
The partially convertible currency is currently trading at 44.06, stronger by 12 paise from its previous close of 44.18/19 on Friday. It has touched a high and low of 44.12 and 44.03 respectively. The Reserve Bank of India's reference rate for the dollar stood at 44.15 and for Euro it stood at 63.1018 on July 29, 2011. While, the RBI's reference rate for the Yen stood at 56.95 and the reference rate for the Great Britain Pound (GBP) stood at 72.10. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| July 29, 2011 | 44.15 | 72.1018 |
| July 28, 2011 | 44.12 | 72.0538 |
