Indian rupee appreciated against dollar on continued selling of the American currency by exporters and banks. Increased capital inflows also helped local unit to hold gains. However, weakness in local equity markets and a month-end dollar demand from oil firms restricted domestic currency’s up move. Meanwhile, euro’s and other currencies’ gains against the dollar overseas, after the European Union's euro zone confidence index jumped for the third straight month as debt concerns slowly ebbed, also supported the local unit.
The partially convertible currency is currently trading at 53.26, stronger by Rs 4 paise from its previous close of 53.30 on Wednesday. The currency has touched a high and low of 53.29 and 53.06 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 53.56 and for Euro it stood at Rs 72.23 on January 30, 2013. While, the RBI’s reference rate for the Yen stood at 58.95, the reference rate for the Great Britain Pound (GBP) stood at 84.3746. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Date | 1US$ | 1GBP |
January 30, 2013 | 53.56 | 84.3746 |
January 29, 2013 | 53.70 | 84.3543 |
