Indian rupee appreciated against greenback on Thursday amid increased selling of the US currency by exporters and banks. Strengthening of other Asian currencies against the dollar in overseas market supported the rupee to an extent. Recovery in local equity markets and expected capital inflows also helped rupee to hold gains. Meanwhile, investors remained hopeful for a rate cut by the Reserve Bank of India in its mid-quarter policy review in June, on the back of lower inflation data.
The partially convertible currency is currently trading at 54.75, stronger by 3 paise from its previous close of 54.78 on Wednesday. The currency touched a high and low of 54.80 and 54.65 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 54.78 and for Euro it stood at Rs 70.71 on May 15, 2013. While, the RBI’s reference rate for the Yen stood at 53.55, the reference rate for the Great Britain Pound (GBP) stood at 83.3805. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Date | 1US$ | 1GBP |
May 15, 2013 | 54.78 | 83.3805 |
May 14, 2013 | 54.62 | 83.6729 |
(RBI-Reference rate)
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