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Rupee hits one-month low against dollar

18 Feb 2013 Evaluate

Indian rupee continued its depreciating streak and touched one-month low against greenback on the back of dollar's gains against other currency rivals. Foreign fund outflows and increasing demand for dollar from oil importers pressurized local unit. However, positive local equity markets capped some local currency’s losses. Meanwhile, Euro’s weakness against dollar also affected domestic currency’s move.

The partially convertible currency is currently trading at 54.31, weaker by 9 paise from its previous close of 54.22 on Friday. The currency touched a high and low of 54.43 and 54.31 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 53.98 and for Euro it stood at Rs 72.08 on February 15, 2013. While, the RBI’s reference rate for the Yen stood at 58.38, the reference rate for the Great Britain Pound (GBP) stood at 83.7200. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date

1US$

1GBP

February 15, 2013

53.98 83.7200

February 14, 2013

53.87

83.5870

(RBI-reference rate)

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