Indian rupee, appreciating for third consecutive session, was trading stronger on Monday, below the perilous ‘63/$’ mark, tailing strong rally at Indian equity markets on continued buying activities from investors following dovish comments from Fed Chairman-nominee Janet Yellen last week, who said there will be no imminent decision to scale back the Fed's massive bond-buying programme. Meanwhile, Indian rupee also resumed trade with vigor after the long weekend on account of bunched up inflows and continued dollar selling by banks and exporters. Nevertheless, some amount of currency’s gains were capped on account of prevailing caution ahead of Rs 8000 crore bond buyback programme from RBI today. On the global front, dollar and euro stuck close to recent highs against the yen in Asia on Monday, though uncertainty, about how long the U.S. Federal Reserve will maintain its monetary stimulus, capped gains.
The partially convertible currency is currently trading at 62.63, stronger by 48 paise from its previous close of 63.11 on Thursday. The currency has touched a high and low of 62.92 and 62.61 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.06 and for Euro it stood at 84.94 on November 14, 2013. While, the RBI’s reference rate for the Yen stood at 63.31, the reference rate for the Great Britain Pound (GBP) stood at 101.1492. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| November 14, 2013 | 63.06 | 101.1492. |
| November 13, 2013 | 63.65 | 101.1661 |
(RBI Reference Rate)
