Snapping earlier session’s gain, Indian rupee depreciated on the back of dollar demand from PSU Bank’s on the behalf of oil importers. Weak local equity markets also pressurized the domestic unit. Investors are waiting for the guidance from RBI’s policy review on Tuesday and FOMC statement on Wednesday. However, dollar’s weakness against other currencies in the global market capped the rupee’s fall.
The partially convertible currency is currently trading at 59.21, weaker by 17 paise from its previous close of 59.04 on Friday. The currency has touched a high and low of 59.32 and 59.13 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at Rs 58.91 and for Euro it stood at Rs 78.21 on July 26, 2013. While, the RBI’s reference rate for the Yen stood at 59.67, the reference rate for the Great Britain Pound (GBP) stood at 90.6794. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
Date | 1US$ | 1GBP |
July 26, 2013 | 58.91 | 90.6794 |
July 25, 2013 | 58.94 | 90.4752 |
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