Indian rupee after a mildly soft start is trading flat on Monday morning, tailing some weakness in other emerging currencies and on increased demand for the US currency from importers. Mildly lower opening in the domestic equity market too was putting pressure on the rupee. In the global markets, the dollar index has regained some footing and was trading up against the euro and other emerging market currencies, as investors looked past the Group of 20’s latest commitment to spur faster global growth.
The partially convertible currency is currently trading 62.15, weaker by 2 paise from its previous close of 62.13 on Friday. The currency touched a high and low of 62.18 and 62.09 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 62.16 and for Euro stood at 85.26 on February 21, 2014. While, the RBI’s reference rate for the Yen stood at 60.66, the reference rate for the Great Britain Pound (GBP) stood at 103.4435. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
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