Tracking positive local equity markets, Indian rupee continues to trade higher against American currency amid mild capital inflows. Meanwhile, central bank’s open market operations were also defending the rupee. Investors were trading cautiously over uncertainty as the US fiscal cliff is nearing its deadline. However, dollar demand from oil importers restricted local unit’s gains to an extent. Meanwhile, strengthening of the euro against the American currency overseas supported the domestic currency.
The partially convertible currency is currently trading at 54.88, stronger by 5 paise from its previous close of 54.93 on Thursday. The currency has touched a high and low of 54.97 and 54.86 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 54.84 and for Euro it stood at Rs 72.63 on December 27, 2012. While, the RBI’s reference rate for the Yen stood at 63.98, the reference rate for the Great Britain Pound (GBP) stood at 88.5497. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Date | 1US$ | 1GBP |
December 27, 2012 | 54.84 | 88.5497 |
December 26, 2012 | 54.96 | 88.6781 |
