Halting six consecutive session’s slide, Indian rupee is drawing comfort from the surge of the local equities and has gained some momentum against the US dollar on Wednesday. Renewed selling of dollars by banks and exporters on the back of dollar weakness in overseas markets mainly boosted the rupee sentiment. The US dollar broadly weakened owing to the improving risk appetite across the globe after Federal Reserve pledged to keep interest rates super low for the next two years in order to help the ailing US economy.
The partially convertible currency is currently trading at 45.12, stronger by 9 paise from its previous close of 45.21 on Tuesday. It touched a high and low of 45.14 and 44.95 respectively. The Reserve Bank of India's reference rate for the dollar stood at 45.17 and for Euro it stood at 64.25 on August 09, 2011. While, the RBI's reference rate for the Yen stood at 58.42 and the reference rate for the Great Britain Pound (GBP) stood at 73.7157. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| August 09,2011 | 45.17 | 73.7157 |
| August 08,2011 | 44.96 | 73.9423 |
RBI-Reference rate
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