Indian rupee depreciated against greenback amid increasing dollar demand from importers. Appreciation of the US currency against euro overseas, after a regional Fed chief, long seen as a policy dove, said the Fed could begin easing up on stimulus this summer and end it late this year pressurized domestic unit to an extent. Volatile local equity markets also added pressure on the local unit. Investors were trading cautiously monitoring domestic shares for cues on foreign fund flows.
The partially convertible currency is currently trading at 54.86, weaker by 8 paise from its previous close of 54.78 on Thursday. The currency touched a high and low of 55.00 and 54.84 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 54.77 and for Euro it stood at Rs 70.46 on May 16, 2013. While, the RBI’s reference rate for the Yen stood at 53.50, the reference rate for the Great Britain Pound (GBP) stood at 83.3141. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Date | 1US$ | 1GBP |
May 16, 2013 | 54.77 | 83.3141 |
May 15, 2013 | 54.78 | 83.3805 |
(RBI-Reference rate)
