Indian rupee trading flat in positive territory against greenback in the late morning session, after touching a week’s high in the early trade amid dollar selling by banks and exporters. However, increasing dollar demand from importers and weak local equity markets erased early gains of the domestic unit. The central bank’s move to curb gold imports by stopping importers from buying on credit, as the bank blames large gold and oil imports for the country’s record high current-account deficit, supported the rupee. Meanwhile, strengthening of the euro against the dollar overseas also helped the rupee to hold gains.
The partially convertible currency is currently trading at 56.43, stronger by 1 paisa from its previous close of 56.44 on Tuesday. The currency touched a high and low of 56.49 and 56.32 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at Rs 56.64 and for Euro it stood at Rs 73.97 on June 4, 2013. While, the RBI’s reference rate for the Yen stood at 56.51, the reference rate for the Great Britain Pound (GBP) stood at 86.6854. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Date | 1US$ | 1GBP |
June 4, 2013 | 56.64 | 86.6854 |
June 3, 2013 | 56.57 | 86.1509 |
(RBI-Reference rate)
