Indian rupee, after opening substantially stronger and having pared some of its early gains, continues to trade strong, tailing the weakness of dollar against basket of major currency. Weakness of local equities mainly has started weighing on the sentiment of Indian currency. On the global front, yen got off to a weak start in Asia on Wednesday having retreated from multi-month highs as emerging markets stabilised and stocks rebounded.
The partially convertible currency is currently trading at 62.45, stronger by 8 paise from its previous close of 62.53 on Tuesday. The currency touched a high and low of 62.52 and 62.36 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 62.68 and for Euro stood at 84.78 on February 4, 2014. While, the RBI’s reference rate for the Yen stood at 62.12, the reference rate for the Great Britain Pound (GBP) stood at 101.9765. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| February 4, 2014 | 62.68 | 101.9765 |
| February 3, 2014 | 62.68 | 102.9668 |
