Indian rupee after a soft start has bounced back in tandem with the recovery in the equity markets. Earlier, the currency extending its last day’s fall, made a lower start on increased demand of the US currency from banks and importers, but improved after the Services PMI data came a little better than the previous month at 47.2. In the global markets, while the major Asian currencies were trading flat, the yen surged higher against dollar ahead of US jobs data due later in the week. Meanwhile, the euro was trading higher from its strongest level in a month before European Central Bank officials gather for a policy meeting tomorrow.
The partially convertible currency is currently trading at 62.36, almost unchanged from its previous close of 62.35 on Tuesday. The currency has touched a high and low of 62.55 and 62.33 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 62.34 and for Euro stood at 84.45 on December 03, 2013. While, the RBI’s reference rate for the Yen stood at 60.38, the reference rate for the Great Britain Pound (GBP) stood at 102.0639. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
The partially convertible currency is currently trading at 62.36, almost unchanged from its previous close of 62.35 on Tuesday. The currency has touched a high and low of 62.55 and 62.33 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 62.34 and for Euro stood at 84.45 on December 03, 2013. While, the RBI’s reference rate for the Yen stood at 60.38, the reference rate for the Great Britain Pound (GBP) stood at 102.0639. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
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