Indian rupee appreciated against greenback amid increasing selling of dollar by banks and exporters. Meanwhile, government’s statement that, it is committed to containing the fiscal deficit within target and it is addressing how to finance CAD, improved the currency sentiments. The Finance Minister had also indicated that Ministry will announce some measures to boost the exports after looking at the first quarter export figures. Strengthening of euro and yen against the dollar overseas also supported the local unit. Investors were hopeful for likely inflows related to Unilever's open offer for Hindustan Unilever.
The partially convertible currency is currently trading at 59.42, stronger by 10 paise from its previous close of 59.52 on Monday. The currency touched a high and low of 59.47 and 59.18 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at Rs 59.14 and for Euro it stood at Rs 77.06 on July 01, 2013. While, the RBI’s reference rate for the Yen stood at 59.48, the reference rate for the Great Britain Pound (GBP) stood at 90.0544. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Date | 1US$ | 1GBP |
July 1, 2013 | 59.14 | 90.0544 |
June 28, 2013 | 59.69 | 91.1432 |
(RBI-Reference rate)
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