Indian rupee, recovering from lows, is trading flat on Monday, as gains of local equities are counterbalancing the impact seen on account of month end dollar demand from oil refiners and other importers. Meanwhile, gains of most of the Asian currencies versus the dollar were also boding well for the local unit. However, potential volatility in local equity market in the latter part of the session on account of a May series F&O expiry, could also temper momentum of local unit. On the global front, dollar dipped against the yen in early Asian trade after marking its worst week in a year on Friday, as volatility in Japanese stocks and bonds pulled it well away from its highest level in 4-1/2 years.
The partially convertible currency is currently trading at 55.62, tad changed from its previous close of 55.64 on Friday. The currency touched a high and low of 55.76 and 55.85 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at Rs 55.60 and for Euro it stood at Rs 71.94 on May 24, 2013. While, the RBI’s reference rate for the Yen stood at 54.71, the reference rate for the Great Britain Pound (GBP) stood at 83.9840. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Date | 1US$ | 1GBP |
May 24, 2013 | 55.60 | 83.9840 |
May 23, 2013 | 55.99 | 84.1881 |
(RBI-Reference rate)
