Indian rupee continues its gaining streak against dollar on Monday on the back of on increased dollar selling by banks and exporters. Local unit relieved after China's latest growth data reduced worries of a steeper economic slowdown in the world's largest consumer of raw materials. However, investors will get trigger from the Federal Reserve this week on its stance over a stronger monetary policy to support the U.S. recovery. Meanwhile, euro started on positive note with a spring in their step, subsequent to last week’s rally amid diminishing worries about China's economic health.
The partially convertible currency is currently trading at 54.97, stronger by 18 paise from its previous close of 55.15 on Friday. It has touched a high and low of 55.04 and 54.77 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 55.65 and for Euro it stood at Rs 67.8783 on July 13, 2012. While, the RBI’s reference rate for the Yen stood at 70.26, the reference rate for the Great Britain Pound (GBP) stood at 85.8883. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
July 13, 2012 | 55.65 | 85.8883 |
July 12, 2012 | 55.69 | 86.2825 |
