After a lower opening, Indian rupee appreciated against greenback in the late morning session, outperforming all other Asian peers, on the back of sustained dollar selling by exporters. The domestic currency is strengthened to 58.77, moving higher against dollar for the second consecutive day after central bank's latest measures to curb the exchange rate volatility. However, weakness in local equity markets and month end dollar demand for dollar is expected to restrict the domestic unit’s gains.
The partially convertible currency is currently trading at 58.85, stronger by 34 paise from its previous close of 59.19 on Wednesday. The currency has touched a high and low of 59.37 and 58.75 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at Rs 59.44 and for Euro it stood at Rs 78.43 on July 24, 2013. While, the RBI’s reference rate for the Yen stood at 59.51, the reference rate for the Great Britain Pound (GBP) stood at 91.2444. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Date | 1US$ | 1GBP |
July 24, 2013 | 59.44 | 91.2444 |
July 23, 2013 | 59.68 | 91.6621 |
