Indian rupee extended losses for the third consecutive session against dollar, on increasing dollar demand from oil refiners. Volatile local equity markets and latest government estimates, which showed that economic growth is likely to slow to 5% this fiscal year, also weighted on local unit’s movement. Meanwhile, government raised $2.15 billion by selling shares in NTPC, with more than half of shares on offer bid by foreigners. The euro fell against dollar and trading near a two-week low on Friday after the ECB chief announcement on Thursday that, he will monitor the impact of the currency's strength, making more straightforward remarks on the exchange rate than many had expected.
The partially convertible currency is currently trading at 53.55, weaker by 33 paise from its previous close of 53.22 on Thursday. The currency has touched a high and low of 53.58 and 53.42 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 53.14 and for Euro it stood at Rs 71.93 on February 7, 2013. While, the RBI’s reference rate for the Yen stood at 56.75, the reference rate for the Great Britain Pound (GBP) stood at 83.2695. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Date | 1US$ | 1GBP |
February 7, 2013 | 53.14 | 83.2695 |
February 6, 2013 | 53.08 | 83.1160 |
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