Indian rupee extended earlier sessions’ losses and touched a fresh low against greenback on sustained dollar demand from banks and importers. Strengthening of the US currency against other Asian currencies after Bernanke's testimony that the Fed may gradually taper off bond buying and weakness in the domestic equity markets pressurized local unit. Further, t`he increasing concerns about the continued lag of the looming current account deficit have also led to the rupee fall.
The partially convertible currency is currently trading at 55.90, weaker by 41 paise from its previous close of 55.49 on Wednesday. The currency touched a high and low of 55.93 and 55.73 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at Rs 55.52 and for Euro it stood at Rs 71.67 on May 22, 2013. While, the RBI’s reference rate for the Yen stood at 54.07, the reference rate for the Great Britain Pound (GBP) stood at 84.0936. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Date | 1US$ | 1GBP |
May 22, 2013 | 55.52 | 84.0936 |
May 21, 2013 | 55.03 | 83.9517 |
(RBI-Reference rate)
