After opening higher, Indian rupee pared some early gains and currently trading flat against dollar amid government’s victory over crucial vote on foreign direct investment in multiband retail on Wednesday. Moreover, the vote in the Rajya Sabha on Friday will be another key factor for the local unit’s movement. Meanwhile, strengthening of euro, which hovered at seven-week high against the American currency overseas also supported the rupee to hold the green mark.
The partially convertible currency is currently trading at 54.53, stronger by 2 paise from its previous close of 54.55 on Wednesday. The currency touched a high and low of 54.58 and 54.40 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 54.56 and for Euro it stood at Rs 71.52 on December 05, 2012. While, the RBI’s reference rate for the Yen stood at 66.34 the reference rate for the Great Britain Pound (GBP) stood at 87.8997. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
December 5, 2012 | 54.56 | 87.8997 |
December 4, 2012 | 54.94 | 88.4212 |
