Indian rupee, after ending flat in the previous session, is currently trading weak on account of month end dollar demand from importers. Further, slide of local equities combined with dollar's gains against euro in the overseas markets amid the increasing threat for another debt-restructuring in Greece, has also added to negative milieu for the Indian currency. Meanwhile, the estimate outflows of around $940 million, likely on account of Cairn Energy's stake sale in Cairn India, also seems to be weighing on the sentiment of local currency.
The partially convertible currency is currently trading at 53.51, weaker by 4 paise from its previous close of 53.47 on Monday. The currency, so far, has touched a high and low of 53.62 and 53.37 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 53.29 and for Euro it stood at Rs 68.9510 on September 24, 2012. While, the RBI’s reference rate for the Yen stood at 68.28, the reference rate for the Great Britain Pound (GBP) stood at 86.4359. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
September 24, 2012 | 53.29 | 86.4359 |
September 21, 2012 | 53.90 | 87.6018 |