Indian rupee, after scaling two months high level, below the psychological ‘61/$’ level on account of dollar sales by banks and exporters, is trading bit weak in late morning deals on Friday. Nevertheless, losses of rupee remain limited on account of global dollar weakness combined with higher local equities. All the Asian market currencies, including local unit gained momentum earlier in trade on account of speculation of potential damage to the US economy from the weeks-long government shutdown discouraging the Federal Reserve from scaling back its stimulus programme at least until the beginning of next year. In the global market, dollar nursed losses near an eight-month low against a basket of currencies on Friday as traders focused on the economic impact of an acrimonious showdown in Washington that dragged the U.S. to the brink of a debt default.
The partially convertible currency is currently trading at 61.30, weaker by 6 paise from its previous close of 61.24 on Thursday. The currency has touched a high and low of 61.38 and 60.92 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 61.58 and for Euro it stood at 83.49 on October 17, 2013. While, the RBI’s reference rate for the Yen stood at 62.51, the reference rate for the Great Britain Pound (GBP) stood at 98.5111. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
October 17, 2013 | 61.58 | 98.5111 |
October 15, 2013 | 61.69 | 98.5914 |
