After opening positive, Indian rupee pared early gains and depreciated against dollar in late morning session amid increasing dollar demand from oil importers. However, increased capital inflows and positive local equity markets capped local unit’s losses. Meanwhile, according to the data from trade ministry, in January exports increased slightly by 0.8% on year on year basis, while imports up by 6.1% on year on year basis, leaving a trade deficit at $ 20 billion against $ 17.6 billion last year. The disappointing data also weighted on domestic currencies move.
The partially convertible currency is currently trading at 53.89, weaker by 5 paise from its previous close of 53.84 on Tuesday. The currency has touched a high and low of 53.92 and 53.78 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 53.95 and for Euro it stood at Rs 72.23 on February 12, 2013. While, the RBI’s reference rate for the Yen stood at 57.43, the reference rate for the Great Britain Pound (GBP) stood at 84.4882. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Date | 1US$ | 1GBP |
February 12, 2013 | 53.95 | 83.4882 |
February 11, 2013 | 53.68 | 83.8455 |
