Indian rupee extended earlier session’s losses against dollar on sustained demand for the US currency from importers. Weakness in local equity markets also dragged down domestic currency to an extent. Moreover, RBI’s worries over the country's current account deficit, which is headed to its highest ever this fiscal, also pressurized rupee. Meanwhile, India's annual industrial output growth measured by index of industrial production (IIP), contracted by 0.6% at 179.3 for the month of December 2012 against contraction of 0.1% in the previous month, weakening currency market’s sentiments.
The partially convertible currency is currently trading at 53.94, weaker by 9 paise from its previous close of 53.85 on Monday. The currency has touched a high and low of 54.00 and 53.85 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 53.68 and for Euro it stood at Rs 71.87 on February 11, 2013. While, the RBI’s reference rate for the Yen stood at 58.01, the reference rate for the Great Britain Pound (GBP) stood at 84.8455. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Date | 1US$ | 1GBP |
February 11, 2013 | 53.68 | 83.8455 |
February 8, 2013 | 53.56 | 83.2541 |
