Indian rupee depreciated against greenback on the back of dollar's gains against other currencies overseas. Fresh demand for the American currency from importers and volatile local equity markets also pressurized rupee. Domestic currency was also affected with the Reserve Bank of India’s (RBI) stunt of keeping key policy rates unchanged at its mid-quarter policy review today. In the guidance given by the central banks, it has mentioned that the monetary policy stance will be determined by how growth and inflation trajectories and the balance of payments situation evolve in the months ahead.
The partially convertible currency is currently trading at 57.76, weaker by 25 paise from its previous close of 57.51 on Friday. The currency touched a high and low of 57.87 and 57.65 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at Rs 57.74 and for Euro it stood at Rs 77.02on June 14, 2013. While, the RBI’s reference rate for the Yen stood at 60.93, the reference rate for the Great Britain Pound (GBP) stood at 90.6418. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Date | 1US$ | 1GBP |
June 14, 2013 | 57.74 | 90.6418 |
June 13, 2013 | 58.41 | 91.6224 |
(RBI-Reference rate)
