Tracking weakness in local equity markets, Indian rupee fell against American currency for the fourth straight session as dollar gained against other currencies overseas. Increased demand for dollar from importers along pressurized local currency to an extent. Meanwhile, Brent crude prices rose on Thursday, staying near a three-month high above $116 amid worries over disruptions to supply from the Middle East also affected rupee in a negative way.
The partially convertible currency is currently trading at 55.94, weaker by 28 paise from its previous close of 55.66 on Tuesday. The currency, so far, has touched a high and low of 56.03 and 55.88 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 55.64 and for Euro it stood at Rs 68.81 on August 14, 2012. While, the RBI’s reference rate for the Yen stood at 70.85, the reference rate for the Great Britain Pound (GBP) stood at 87.3102. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
August 14, 2012 | 55.64 | 87.3102 |
August 13, 2012 | 55.41 | 86.7790 |