Snapping earlier two session’s gains, Indian rupee retreated from 53 mark and currently trading lower against dollar on Tuesday, tracking weakness in local equity markets on profit booking. Dollar’s gains against the basket of currencies and demand for greenback also put pressure on the rupee. Meanwhile, the euro erased some gains against dollar but still not far from a 4 1/2-month high on Monday.
The partially convertible currency is currently trading at 54.31, weaker by 31 paise from its previous close of 54.00 on Monday. The currency touched a high and low of 54.37 and 54.21 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 53.97 and for Euro it stood at Rs 70.84 on September 17, 2012. While, the RBI’s reference rate for the Yen stood at 68.95, the reference rate for the Great Britain Pound (GBP) stood at 87.5242. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
September 17, 2012 | 53.97 | 87.5242 |
September 14, 2012 | 54.31 | 88.6085 |
(RBI-reference rate)
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