Indian rupee is showing some strength on Tuesday after making a flat opening. The Indian currency posted its first monthly gain in 5 months and a second quarter of gains, up 5.5 percent. Though, the dollar has strengthened in Asian trade due to the looming government shut down in US, but the rupee has taken support with the announcement of the Reserve Bank to conduct open market operations (OMOs) by purchasing government securities for an aggregate amount of Rs 10,000 crore on October 7.
The partially convertible currency is currently trading at 62.42, stronger by 18 paise from its previous close of 62.60 on Monday. The currency has touched a high and low of 62.60 and 62.39 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 62.77 and for Euro it stood at 84.67 on September 30, 2013. While, the RBI’s reference rate for the Yen stood at 64.15, the reference rate for the Great Britain Pound (GBP) stood at 101.4162. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
The partially convertible currency is currently trading at 62.42, stronger by 18 paise from its previous close of 62.60 on Monday. The currency has touched a high and low of 62.60 and 62.39 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 62.77 and for Euro it stood at 84.67 on September 30, 2013. While, the RBI’s reference rate for the Yen stood at 64.15, the reference rate for the Great Britain Pound (GBP) stood at 101.4162. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
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