Indian rupee, after taking a breather in previous trading session, yet again resumed its depreciating streak on Wednesday tracing weakness of local equities and other Asian currencies, while month-end dollar demand from oil importers also weighed on the sentiment. Mainly, escalating tensions in Iraq, which threatened to push up brent crude prices, eating into risk appetite for emerging market’s assets, led to downbeat sentiment for local unit. On the global front, dollar held up against the yen and euro in Asia on Wednesday as dealers await the release of key US data later in the week.
The partially convertible currency is currently trading at 60.27, weaker by 14 paise from its previous close of 60.13 on Tuesday. The currency touched a high and low of 60.38 and 60.22 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 60.10 and for Euro stood at 81.75 on June 24, 2014. While, the RBI’s reference rate for the Yen stood at 58.94, the reference rate for the Great Britain Pound (GBP) stood at 102.3228. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| June 24, 2014 | 60.10 | 102.3228 |
| June 23, 2014 | 60.19 | 102.5623 |
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