Indian rupee, paring some gains, is trading tad stronger on Tuesday, tracing the ongoing profit-booking in local equity markets, which has wiped substantial portion of bourses’ gains. The Indian currency opened on an optimistic note tracing the strength of other Asian currencies against the dollar overseas and a higher opening in the domestic equity market. Meanwhile, fresh selling of the US currency by exporters, also aided the sentiment. On the global front, dollar wallowed at 1-1/2 week lows against a basket of currencies in early Asian trade on Tuesday as declining bond yields and slowing inflation put pressure on the Federal Reserve for more action.
The partially convertible currency is currently trading at 54.20, tad stronger by 4 paise from its previous close of 54.24 on Monday. The currency touched a high and low of 54.20 and 54.12 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 54.27 and for Euro it stood at Rs 70.90 on April 29, 2013. While, the RBI’s reference rate for the Yen stood at 55.51, the reference rate for the Great Britain Pound (GBP) stood at 84.2325. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Date | 1US$ | 1GBP |
April 29, 2013 | 54.27 | 84.2325 |
April 26, 2013 | 54.29 | 83.8835 |
(RBI-Reference rate)
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