Tracking positive opening in the local equity markets, Indian rupee appreciated against dollar due to improved global risk sentiments on stronger than expected US retail sales data. Dollar selling by exporters and banks also helped local unit to recover from its lower levels. Meanwhile, euro’s strengthening against dollar overseas also supported the domestic unit to an extent. However, oil, gold-related US currency’s demand during the session is expected to restrict the rupee’s gains, but at the same time attractive domestic prospects can limit the weakness in the rupee.
The partially convertible currency is currently trading at 52.87, stronger by 15 paise from its previous close of 53.02 on Monday. The currency, so far, has touched a high and low of 52.96 and 52.81 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 53.11 and for Euro it stood at Rs 68.6020 on October 15, 2012. While, the RBI’s reference rate for the Yen stood at 67.65 the reference rate for the Great Britain Pound (GBP) stood at 85.1457. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
October 15, 2012 | 53.11 | 85.1457 |
October 12, 2012 | 52.70 | 84.5097 |