Indian rupee, extending its three consecutive sessions’ appreciating streak, was trading stronger in early deals on Tuesday amidst higher local equities and persistent dollar sales by banks and exporters. Meanwhile, strengthening of euro and yen against the dollar in overseas market was also aiding the sentiment. However, the currency’s gain could be tempered with going further in the session as markets await the release of minutes of Fed's October meeting due on Wednesday to glean an insight into the central bank’s thinking on winding back its $85 billion monthly asset purchases. In the global market, dollar hobbled on Tuesday on expectations that the Federal Reserve will keep its easy policy stance and on sharpened appetite for risk following Beijing's announcement of sweeping reforms.
The partially convertible currency is currently trading at 62.24, stronger by 16 paise from its previous close of 62.40 on Monday. The currency has touched a high and low of 62.33 and 62.10 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 62.62 and for Euro it stood at 84.55 on November 18, 2013. While, the RBI’s reference rate for the Yen stood at 62.59, the reference rate for the Great Britain Pound (GBP) stood at 101.0642. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| November 18, 2013 | 62.62 | 101.0642 |
| November 14, 2013 | 63.06 | 101.1492 |
(RBI Reference Rate)
