Indian rupee resumed trade after long break on stronger note and was currently trading near eight month high level in early deals on Wednesday due to bunched up dollar inflows, while record high level of local equity markets was seen aiding the sentiment. Trading in the currency resumed after a two-day break due to 'Gudi Padwa' and Annual closing of bank accounts. Meanwhile, the sentiment of Indian currency was also positive after the Reserve Bank of India kept rates on hold at its policy review while further tightening bank's access to cheap overnight funds. Further, gains in other Asian currencies also added to the upside of Indian currency. On the global front, yen found little reprieve on Wednesday and hit a 10-week low against the dollar, as risk appetite stayed buoyant and investors continued to bet on more stimulus from China.
The partially convertible currency is currently trading at 59.67, stronger by 27 paise from its previous close of 59.94 on Friday. The currency touched a high and low of 59.82 and 59.63 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 60.09 and for Euro stood at 82.57 on March 28, 2014. While, the RBI’s reference rate for the Yen stood at 58.83, the reference rate for the Great Britain Pound (GBP) stood at 99.8498. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| March 28, 2014 | 60.09 | 99.8498 |
| March 27, 2014 | 60.12 | 99.6466 |
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