Indian rupee, after witnessing consolidation in previous trading session, resumed its appreciating streak and was trading with strength on Friday tracking gains in the local share-market and other Asian currencies. Additionally, euro’s strength also was working in favour of the local unit. However, central bank’s intervention may limit further uptrend of Indian currency. On the global front, euro held steady on Friday after a dramatic rebound from a four-month trough the previous day as investors booked profits after the European Central Bank eased policy in a long-anticipated move.
The partially convertible currency is currently trading at 59.19, stronger by 15 paise from its previous close of 59.34 on Thursday. The currency touched a high and low of 59.22 and 59.18 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 59.29 and for Euro stood at 80.69 on June 5, 2014. While, the RBI’s reference rate for the Yen stood at 57.83, the reference rate for the Great Britain Pound (GBP) stood at 99.3408. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| June 5, 2014 | 59.29 | 99.3408 |
| June 4, 2014 | 59.33 | 99.1801 |
RBI-Reference Rate)
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