Indian rupee, although cooling off from four months high level scaled in early deals, is trading stronger on Monday, tailing the record high level scaled by local equity markets after BJP's victory in state Assembly elections. In the official results of the state elections, the main opposition party, Bhartiya Janata Party (BJP), performed strongly, securing an absolute majority in three out of the four states (Rajasthan, Madhya Pradesh and Chattisgarh) and a plurality in the fourth state (Delhi). Meanwhile, the Indian currency also extended its rising streak for the fourth straight day on increased dollar selling by banks and exporters and stronger euro. In the global market, euro raced to a near six-week high against the dollar and scaled a fresh five-year peak versus the yen on Monday after strong U.S. payrolls data boosted risk appetite despite threats of a possible reduction in the U.S. monetary stimulus.
The partially convertible currency is currently trading at 61.18, stronger by 26 paise from its previous close of 61.44 on Friday. The currency touched a high and low of 61.20 and 60.90 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 61.66 and for Euro stood at 84.25 on December 06, 2013. While, the RBI’s reference rate for the Yen stood at 60.40, the reference rate for the Great Britain Pound (GBP) stood at 100.6472. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| December 06, 2013 | 61.66 | 100.6472 |
| December 05, 2013 | 61.68 | 101.0782 |
(RBI-Reference Rate)
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