Tracking weakness in local equity markets, Indian rupee pared early gains against the US dollar and is trading almost flat to its previous close. American currency’s weakness against other oversea currencies and dollar selling by exporters and banks supported the rupee in early trade. Meanwhile, Euro gained against dollar ahead of a European Central Bank meeting during which officials were expected to announce fresh measures to come out from euro zone debt crisis.
The partially convertible currency is currently trading at 55.52, almost flat to its previous close of 55.53 on Monday. The currency, so far, has touched a high and low of 55.53 and 55.40 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 55.45 and for Euro it stood at Rs 69.69 on September 03, 2012. While, the RBI’s reference rate for the Yen stood at 70.83, the reference rate for the Great Britain Pound (GBP) stood at 87.9833. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
September 3, 2012 | 55.45 | 87.9833 |
August 31, 2012 | 55.72 | 87.9508 |
(RBI-reference rate)
