Indian rupee, despite paring early losses, was trading tad weaker on Monday, on prospects of a rate hike by RBI in its upcoming mid-quarterly policy review. Further, prevailing caution ahead of the release of November wholesale price index data, which is expected to remain at eight-month high level of 7%, is also restricting the appreciation of Indian currency in the wake of positive local equities. Additionally, increased demand for dollar from importers and weak domestic equity market dampened the rupee sentiment. On the global front, dollar moved little in Asia on Monday as investors waited to see if the Federal Reserve would begin to scale back its massive bond buying stimulus program this week.
The partially convertible currency is currently trading at 62.10, unchanged from its previous close 62.12 on Friday. The currency has touched a high and 62.24 and 62.08 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 62.12 and for Euro stood at 85.41 on December 13, 2013. While, the RBI’s reference rate for the Yen stood at 59.90, the reference rate for the Great Britain Pound (GBP) stood at 101.5335. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| December 13, 2013 | 62.12 | 101.5335 |
| December 12, 2013 | 61.62 | 100.8350 |
(RBI-Reference Rate)
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