Indian rupee recovered against greenback on Friday amid dollar selling by exporters and some banks. Weakening of dollar against euro and yen in the global market ahead of the release of US employment data for May and the European Central Bank and the Bank of England both keeping monetary policy unchanged, also supported rupee. Positive local equity markets also helped rupee to hold gains. However, huge external debt and corporate liabilities along with importers' dollar demand restricted the local unit’s gain.
The partially convertible currency is currently trading at 56.76, stronger by 8 paise from its previous close of 56.84 on Thursday. The currency touched a high and low of 56.84 and 56.69 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at Rs 56.86 and for Euro it stood at Rs 74.51 on June 6, 2013. While, the RBI’s reference rate for the Yen stood at 57.37, the reference rate for the Great Britain Pound (GBP) stood at 87.6465. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Date | 1US$ | 1GBP |
June 6, 2013 | 56.86 | 87.6465 |
June 5, 2013 | 56.42 | 86.5372 |
(RBI-Reference rate)
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