Indian rupee depreciated against greenback, touching two-and-a-half-month low amid increasing month end demand for dollar from banks and importers. However, a firm opening in the domestic equity markets and some capital inflows, capped the fall. Euro’s weakness against dollar after US consumer sentiments came higher against market expectations showing positivity in the US economy also pressurized the local unit. Meanwhile, rupee was also affected after S&P’s warned that there was a one-in-three chance of the country’s sovereign rating being downgraded to junk status in the next 12 months.
The partially convertible currency is currently trading at 55.02, weaker by 15 paise from its previous close of 54.87 on Friday. The currency touched a high and low of 55.06 and 54.97 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 54.88 and for Euro it stood at Rs 70.57 on May 17, 2013. While, the RBI’s reference rate for the Yen stood at 53.54, the reference rate for the Great Britain Pound (GBP) stood at 83.6580. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Date | 1US$ | 1GBP |
May 17, 2013 | 54.88 | 83.6580 |
May 16, 2013 | 54.77 | 83.3141 |
(RBI-Reference rate)
