Indian rupee appreciated against the dollar on Wednesday amid selling of the US currency by exporters and banks. Positive domestic equity markets supported the local unit to an extent. Moreover, strengthening of euro against the dollar overseas ahead of the European Central Bank’s monetary policy meeting also aided domestic currency. However, dollar demand from importers capped some rupee gains.
The partially convertible currency is currently trading at 54.66, stronger by 28 paise from its previous close of 54.94 on Tuesday. The currency has touched a high and low of 54.75 and 54.62 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 54.65 and for Euro it stood at Rs 71.21 on March 5, 2013. While, the RBI’s reference rate for the Yen stood at 58.75, the reference rate for the Great Britain Pound (GBP) stood at 82.6584. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Date | 1US$ | 1GBP |
March 5, 2013 | 54.65 | 82.6584 |
March 4, 2013 | 55.05 | 82.7484 |
(RBI-reference rate)
