Indian rupee appreciated against dollar in the late morning session on Friday amid continued selling of the US currency by exporters. Strengthening of euro and other currencies against the dollar overseas also supported the rupee. Local equity markets’ weakness on disappointing Infosys results restricted local unit’s gains. Meanwhile, India's annual industrial output growth measured by index of industrial production (IIP) grew by 0.6% for the month of February 2013, although lower than the growth figure of 2.4% registered in the previous month, higher than the street’s expectation of negative number, which also helped rupee to hold gains. Also the anticipation that the Fed may end its bond buying program is expected to underpin the dollar against rupee.
The partially convertible currency is currently trading at 54.45, stronger by 8 paise from its previous close of 54.53 on Wednesday. The currency has touched a high and low of 54.53 and 54.41 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 54.53 and for Euro it stood at Rs 71.32 on April 10, 2013. While, the RBI’s reference rate for the Yen stood at 55.03, the reference rate for the Great Britain Pound (GBP) stood at 83.5952. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| April 10, 2013 | 54.53 | 83.5952 |
| April 9, 2013 | 54.46 | 83.1297 |
RBI-Reference rate
