Indian rupee continued trading higher against greenback on Friday amid increased foreign fund inflows. Increase in dollar selling by some banks and positive local equity market supported domestic currency to an extent. Meanwhile, currency’s positive sentiments were also boosted on expected capital inflows from a government-owned power company’s share sale. Meanwhile, euro’s gain against the American currency in the overseas market, as European Central Bank President gave no indication of a further cut in interest rates in the euro zone, also supported the rupee.
The partially convertible currency is currently trading at 54.47, stronger by 9 paise from its previous close of 54.56 on Thursday. The currency has touched a high and low of 54.56 and 54.41 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 54.73 and for Euro it stood at Rs 71.12 on March 7, 2013. While, the RBI’s reference rate for the Yen stood at 58.29, the reference rate for the Great Britain Pound (GBP) stood at 82.1418. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Date | 1US$ | 1GBP |
March 7, 2013 | 54.73 | 82.1418 |
March 6, 2013 | 54.71 | 82.7873 |
(RBI-reference rate)
