Indian rupee, after snapping two consecutive sessions’ losing streak and edging tad higher in previous trading session, resumed its depreciation on Thursday, tailing dollar’s strength against other Asian currencies overseas. However, gains of local equities, to some extent were capping rupee’s losses against. Meanwhile, caution ahead of consumer price inflation and the industrial output data due later in the session, also weighed on the sentiment. On the macro-front, street widely expects factory output to rise for the first time in April since January, to reflect healthy growth in core industries and consumer price index to ease in May. On the global front, dollar edged lower against a basket of major currencies on Wednesday for the first time in four sessions after traders dismissed expectations of an early Federal Reserve rate hike, while the yen advanced on few signs of further easing from the Bank of Japan.
The partially convertible currency is currently trading at 59.33, weaker by 6 paise from its previous close of 59.27 on Wednesday. The currency touched a high and low of 59.36 and 59.31 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 59.32 and for Euro stood at 80.32 on June 11, 2014. While, the RBI’s reference rate for the Yen stood at 57.99, the reference rate for the Great Britain Pound (GBP) stood at 99.4168. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| June 11, 2014 | 59.32 | 99.4168 |
| June 10, 2014 | 59.24 | 99.6299 |
(RBI-Reference Rate)
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