Indian rupee extending previous session’s losses was trading weak on Friday, tracing negative local equities, while dollar demand from oil firms, also weighed on the sentiment. However, cautiousness ahead of the crucial G-20 meeting in Moscow, also kept traders on the sidelines. During the meeting over the next two days, leaders are likely to discuss the recent move by some countries (which are strong in export) to de-value their currencies artificially and the impact it could have on the world economy. Meanwhile, data showing the euro zone slipped deeper into recession late last year, which pressured the single currency, also added to negative for local unit.
The partially convertible currency is currently trading at 53.97, weaker by 5 paise from its previous close of 53.92 on Thursday. The currency touched a high and low of 54.00 and 53.86 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 53.87 and for Euro it stood at Rs 72.37 on February 14, 2013. While, the RBI’s reference rate for the Yen stood at 57.60, the reference rate for the Great Britain Pound (GBP) stood at 83.5870. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Date | 1US$ | 1GBP |
February 14, 2013 | 53.87 | 83.5870 |
February 13, 2013 | 53.85 | 84.4260 |
