Indian rupee depreciated against greenback amid dollar strength against the euro and other currencies in overseas market. Weakness in local equity markets also pressurized domestic currency to an extent. Investors were waiting for release of crucial March inflation data, which will be the important factor for setting rate expectations for the May 3 policy review. Currency market will be watching Indian trade data due this week in order to estimate the impact of falling global oil and gold prices on the country’s record current-account deficit.
The partially convertible currency is currently trading at 54.67, weaker by 14 paise from its previous close of 54.53 on Friday. The currency has touched a high and low of 54.79 and 54.66 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 54.44 and for Euro it stood at Rs 71.33 on April 12, 2013. While, the RBI’s reference rate for the Yen stood at 54.77, the reference rate for the Great Britain Pound (GBP) stood at 83.7761. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| April 12, 2013 | 54.44 | 83.7761 |
| April 10, 2013 | 54.53 | 83.5952 |
RBI-Reference rate
