Indian rupee extended losses against dollar amid fresh demand for the American currency from banks and importers. Weakness in local equity markets also pressurized the domestic currency. Meanwhile, in a pleasant surprise, the wholesale price index (WPI), India's main inflation gauge, unexpectedly eased to 6.62% for the month of January as compared to 7.23% during the corresponding month of the previous year. Euro’s declining streak against the U.S dollar in volatile trade ahead of G20 meeting in Moscow later in the week also weighted on local unit.
The partially convertible currency is currently trading at 53.89, weaker by 7 paise from its previous close of 53.82 on Wednesday. The currency has touched a high and low of 53.95 and 53.85 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 53.85 and for Euro it stood at Rs 72.39 on February 13, 2013. While, the RBI’s reference rate for the Yen stood at 57.86, the reference rate for the Great Britain Pound (GBP) stood at 84.4260. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Date | 1US$ | 1GBP |
February 13, 2013 | 53.85 | 84.4260 |
February 12, 2013 | 53.95 | 83.4882 |
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