Indian rupee continued to depreciate against greenback and moving towards record low on Monday amid dollar strength against other Asian currencies, ahead of the two-day Federal Reserve meeting amid concerns about a potential early roll back of the US monetary stimulus programme. Weak local equity markets and increasing dollar demand from importers and banks pressurized domestic currency. Meanwhile, Euro’s weakness against dollar also weighed on currency movement.
The partially convertible currency is currently trading at 58.36, weaker by 49 paise from its previous close of 57.87 on Monday. The currency touched a high and low of 58.46 and 58.22 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at Rs 57.73 and for Euro it stood at Rs 76.96 on June 17, 2013. While, the RBI’s reference rate for the Yen stood at 60.85, the reference rate for the Great Britain Pound (GBP) stood at 90.6088. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Date | 1US$ | 1GBP |
June 17, 2013 | 57.73 | 90.6088 |
June 14, 2013 | 57.74 | 90.6418 |
(RBI-Reference rate)
