Indian rupee, after ending little changed in the previous session, got up to strong start on Monday and was currently trading near ten months high on widespread hopes that exit polls later today would show the opposition Bharatiya Janata Party (BJP) winning a majority in the country's elections, which was also reflected in sanguine local equities. Meanwhile, euro’s strength too was aiding the sentiment for Indian currency. However, some amount of dollar's demand later in the session could restrict the further positive momentum of Indian currency. On the global front, euro started the week on a steadier footing after two consecutive sessions of steep losses, but could face pressure amid the persistent threat of policy action from the European Central Bank (ECB).
The partially convertible currency is currently trading at 59.73, stronger by 31 paise from its previous close of 60.04 on Friday. The currency touched a high and low of 60.03 and 59.53 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 60.05 and for Euro stood at 83.07 on May 09, 2014. While, the RBI’s reference rate for the Yen stood at 59.06, the reference rate for the Great Britain Pound (GBP) stood at 101.6534. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
No comments:
Post a Comment