Snapping earlier session’s gains, Indian rupee depreciated against dollar mild capital outflows. Positive sentiments due to gains in other Asian currencies were overshadowed by choppy local shares. Lower local equity markets added pressure to the local unit. Moreover, month end dollar demand by the banks and importers also affected domestic currency to a great extent. Meanwhile, Euro holding gains against dollar after Spanish regional election results indicated support for the austerity policies of Prime Minister, Mariano Rajoy.
The partially convertible currency is currently trading at 53.63, weaker by 16 paise from its previous close of 53.47 on Monday. The currency, so far, has touched a high and low of 53.65 and 53.36 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 53.67 and for Euro it stood at Rs 70.0675 on October 22, 2012. While, the RBI’s reference rate for the Yen stood at 67.45 the reference rate for the Great Britain Pound (GBP) stood at 86.0494. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
October 22, 2012 | 53.67 | 86.0494 |
October 19, 2012 | 53.71 | 86.1468 |
