Indian rupee continued trading higher against the greenback, after touching one-month high in early trade on Wednesday. Local unit continued its strong run on hopes that central bank will cut the key interest rates with a recent fall in inflation. The continued fall in commodity prices, which is expected to narrow the current-account deficit, also supported the domestic currency. Meanwhile, dollar selling by exporters and increased capital inflows supported rupee to an extent. Strengthening of euro against dollar overseas and higher opening in the domestic equity market also helped rupee to hold gains.
The partially convertible currency is currently trading at 54.01, stronger by 13 paise from its previous close of 54.14 on Tuesday. The currency has touched a high and low of 54.10 and 53.90 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 54.32 and for Euro it stood at Rs 71.05 on April 16, 2013. While, the RBI’s reference rate for the Yen stood at 55.70, the reference rate for the Great Britain Pound (GBP) stood at 83.1723. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| April 16, 2013 | 54.32 | 83.1723 |
| April 12, 2013 | 54.44 | 83.7761 |
RBI-Reference rate
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