Indian rupee depreciated against dollar on worries over record current account deficit, but inflows kept losses in check in the late morning session on the first trading day of the new financial year. Weak local equity markets pressurized the domestic currency to an extent. Meanwhile, the finance minister’s assurance that the government will take steps to plug the current account deficit restricted the rupee’s losses. Dollar’s weakness against euro and other Asian currencies also helped local unit to limit losses.
The partially convertible currency is currently trading at 54.34, weaker by 7 paisa from its previous close of 54.27 on Thursday. The currency touched a high and low of 54.36 and 54.28 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 54.38 and for Euro it stood at Rs 69.54 on March 28, 2013. While, the RBI’s reference rate for the Yen stood at 57.76, the reference rate for the Great Britain Pound (GBP) stood at 82.3209. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| March 28, 2013 | 54.38 | 82.3209 |
| March 26, 2013 | 54.27 | 82.4903 |
(RBI-reference rate)
