Tracking local equity market’s weakness, Indian rupee extended losses against greenback amid increasing dollar demand from importers. Meanwhile, investors are waiting for some positive triggers from Reserve Bank’s monetary policy review on March 19 and the wholesale price index-based inflation data to be released later in the day, which will be the important factor for RBI’s policy decision. Dollar’s strength against other currencies overseas, which also includes Euro, on strong US retail sales data, also pressurized local unit to an extent.
The partially convertible currency is currently trading at 54.50, weaker by 20 paise from its previous close of 54.30 on Wednesday. The currency touched a high and low of 54.53 and 54.33 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 54.11 and for Euro it stood at Rs 70.55 on March 13, 2013. While, the RBI’s reference rate for the Yen stood at 56.53, the reference rate for the Great Britain Pound (GBP) stood at 80.8376. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| March 13, 2013 | 54.11 | 80.8376 |
| March 12, 2013 | 54.33 | 80.8989 |
(RBI-reference rate)
