Indian rupee continuing its jubilation made another strong start, surging to its seven and half months high on Tuesday morning. The domestic currency has gained momentum tracking broad global losses in the dollar and as foreign investors continued to buy into the Indian equities. Though, the local share markets have today made a somber start on weak global cues, the rupee strengthened with dollar selling by exporters. In global markets, euro held gains versus most of its major counterparts before European Central Bank President Mario Draghi speaks today.
The partially convertible currency is currently trading at 60.50, stronger by 28 paise from its previous close of 60.78 on Monday. The currency touched a high and low of 60.60 and 60.50 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 60.70 and for Euro stood at 83.80 on March 24, 2014. While, the RBI’s reference rate for the Yen stood at 59.26, the reference rate for the Great Britain Pound (GBP) stood at 100.1053. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| March 24, 2014 | 60.70 | 100.1053 |
| March 21, 2014 | 61.04 | 100.8061 |
(RBI-Reference rate)
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