Supported by local equity markets recovery, Indian rupee appreciated against dollar after opening lower as exporters and banks increased selling of American currency. Strengthening of the euro against the dollar overseas also supported the local unit. However, investors were trading cautiously as global economic risks continued and FII investments in the country become volatile. Meanwhile, euro edged higher against greenback on Monday after a regional Spanish election appeared to indicate support for the troubled nation's austerity policies.
The partially convertible currency is currently trading at 53.65, stronger by 19 paise from its previous close of 53.84 on Friday. The currency, so far, has touched a high and low of 53.89 and 53.59 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 53.71 and for Euro it stood at Rs 70.1690 on October 19, 2012. While, the RBI’s reference rate for the Yen stood at 67.71 the reference rate for the Great Britain Pound (GBP) stood at 86.1468. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
October 19, 2012 | 53.71 | 86.1468 |
October 18, 2012 | 52.96 | 85.4549 |
