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Rupee again dips to two-month low on Tuesday

24 May 2011 Evaluate

Indian Rupee is currently trading unchanged from its previous close on Tuesday. Though the domestic unit recovered from its two-month low touched in the previous session in early trade on the back of the positive local shares but soon pared all its gains in line with the local share market. The domestic currency also weighed by the greenback’s surge shaved off its strength. On the global front, the dollar held firm near a seven-week high against a basket of currencies and the euro remained on the defensive on Tuesday amid worries that the euro zone's debt crisis could spread to heavyweights like Spain that had been considered safe from contagion.

The partially convertible Rupee is currently trading unchanged from its previous close of 45.32 on Tuesday. It has touched a high and low of 45.26 and 45.13/ 14 respectively. The Reserve Bank of India's reference rate for the US dollar stood at 45.28 and for Euro it stood at 63.61 on May 23, 2011. While, the RBI's reference rate for the Yen stood at 55.32 and the reference rate for the Great Britain Pound (GBP) stood at 73.3038. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
May 23,201145.28 73.3038
May 20,201144.93 72.9169

(RBI-Reference rate)

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