Indian rupee, prolonging previous session’s losing streak, was trading weak on Thursday on account of fresh demand for American greenback by oil importers and bank and weak trend of local equities ahead of the key earning season, which is expected to kick-start with Infosys reporting its earnings for July-September quarter. Additionally, weakness of other Asian currencies and majors versus the greenback, also was weighing on the sentiment. In the global market, dollar’s gains against other currencies on hopes of a possible breakthrough in the US budget crisis, fresh demand from importers for the American currency also put pressure on the local currency.
The partially convertible currency is currently trading at 62.15, weaker by 27 paise from its previous close of 61.88 on Wednesday. The currency has touched a high and low of 62.29 and 62.13 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 61.91 and for Euro it stood at 83.92 on October 9, 2013. While, the RBI’s reference rate for the Yen stood at 63.54, the reference rate for the Great Britain Pound (GBP) stood at 99.4511. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
October 9, 2013 | 61.91 | 99.4511 |
October 8, 2013 | 61.68 | 99.2013 |
(RBI Reference Rate)
