Indian rupee continued its losing streak against US dollar amid lower domestic equity markets. Increased demand for the dollar from banks and importers pressurized the local unit. However, rupee’s losses were capped on RBI's announcement, on Monday, to open a special window to provide exporters with dollar credit in anticipation of dollar shortages, starting in late February when the United States is expected to hit its debt ceiling limit. Meanwhile, euro fell against dollar after a top European official warned that the euro currency had climbed into the danger zone, also affected rupee to an extent.
The partially convertible currency is currently trading at 54.80, weaker by 19 paise from its previous close of 54.61 on Tuesday. The currency touched a high and low of 54.80 and 54.69 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 54.54 and for Euro it stood at Rs 72.85 on January 15, 2013. While, the RBI’s reference rate for the Yen stood at 61.30, the reference rate for the Great Britain Pound (GBP) stood at 87.6934. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Date | 1US$ | 1GBP |
January 15, 2013 | 54.54 | 87.6934 |
January 14, 2013 | 54.63 | 88.1735 |
