After opening lower and a subsequent up move, Indian rupee again depreciated against dollar on Thursday amid sustained demand for American currency from importers and bank. Subdued local equity markets also pressurized local unit to an extent. However, some foreign funds inflow restricted domestic currencies losses. Meanwhile, traders were awaiting developments in the euro zone ahead of Group of 20 nations’ meeting over the weekend, where Europe and the United States will be pushed to tackle their debt woes.
The partially convertible currency is currently trading at 53.82, weaker by 2 paise from its previous close of 53.80 on Wednesday. The currency, so far, has touched a high and low of 53.90 and 53.70 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 54.11 and for Euro it stood at Rs 70.1495 on October 31, 2012. While, the RBI’s reference rate for the Yen stood at 67.99 the reference rate for the Great Britain Pound (GBP) stood at 87.0751. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
October 31, 2012 | 54.11 | 87.0751 |
October 30, 2012 | 54.16 | 86.8319 |
