Snapping early session’s gains, Indian rupee depreciated against dollar on Thursday amid dollar demand from banks and importers. Dollar’s strength against other Asian currencies too affected the rupee movements. However, positive local equity markets restricted domestic currency’s losses. Meanwhile, currency sentiments were dampened with RBI governor’s statement that, it was difficult to estimate when the rupee will reverse declines and that inflation remains elevated. Investors were waiting for industrial output data and consumer price inflation data due after market hours.
The partially convertible currency is currently trading at 59.92, weaker by 24 paise from its previous close of 59.68 on Thursday. The currency touched a high and low of 59.95 and 59.74 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at Rs 59.64 and for Euro it stood at Rs 77.98 on July 11, 2013. While, the RBI’s reference rate for the Yen stood at 60.40, the reference rate for the Great Britain Pound (GBP) stood at 90.1370. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Date | 1US$ | 1GBP |
July 11, 2013 | 59.64 | 90.1370 |
July 10, 2013 | 60.13 | 89.5200 |
