The Indian rupee depreciated against greenback on Monday amid increasing dollar demand from PSU banks and importers. The sentiments remained cautious on the back of increasing crude prices, disappointing industrial production, fall in exports and a higher retail inflation data. Dollar’s strength against other Asian currencies and weak local equity markets also pressurized the local unit. Meanwhile, Finance Minister P Chidambaram is meeting Prime Minister Manmohan Singh today to check the slide of the Indian currency over the last few weeks.
The partially convertible currency is currently trading at 60.07, weaker by 47 paise from its previous close of 59.60 on Friday. The currency touched a high and low of 60.07 and 59.88 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at Rs 59.90 and for Euro it stood at Rs 78.32 on July 12, 2013. While, the RBI’s reference rate for the Yen stood at 60.59, the reference rate for the Great Britain Pound (GBP) stood at 90.8802. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Date | 1US$ | 1GBP |
July 12, 2013 | 59.90 | 90.8802 |
July 11, 2013 | 59.64 | 90.1370 |
(RBI-Reference rate)
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