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Rupee continues trading positive against dollar ahead of govt bond auction

22 Feb 2013 Evaluate

Following a negative start and a subsequent retreat, Indian rupee continued trading marginally higher against dollar in the late morning session on Friday. Fresh selling of the US currency by exporters and positive local equity markets supported the local unit to an extent. Investors were expecting strong foreign fund inflows due to the government bond auction today, which can improve domestic currency’s move. Meanwhile, euro’s gains against the American currency in the overseas market also helped rupee to hold gains.

The partially convertible currency is currently trading at 54.46, stronger by 2 paise from its previous close of 54.48 on Thursday. The currency touched a high and low of 54.54 and 54.37 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 54.48 and for Euro it stood at Rs 72.23 on February 21, 2013. While, the RBI’s reference rate for the Yen stood at 58.33, the reference rate for the Great Britain Pound (GBP) stood at 82.7143. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date

1US$

1GBP

February 21, 2013

54.48 82.7143

February 20, 2013

54.05

83.4493

(RBI-reference rate)

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