Indian rupee extending its depreciating streak for sixth straight session, weakened to nine-month low level on Thursday, tracking dollar’s strength against the basket of other major currencies, while weak local equities also weighed on the sentiment. Additionally, state owned bank’s dollar demand for Iran payments also added to negative milieu. However, Indian currency recovery from day’s low level, which was 62.25/$ level reportedly on the back of RBI’s intervention. On the global front, dollar hit a fresh seven-year high against the yen on Wednesday, and held near a 14-month peak versus sterling, as investors added favourable bets ahead of Federal Reserve minutes that could highlight policy divergence with its peers.
The partially convertible currency is currently trading at 62.09, weaker by 13 paise from its previous close of 61.96 on Wednesday. The currency touched a high and low of 62.25 and 62.03 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 61.82 and for Euro stood 77.42 on November 19, 2014. While, the RBI’s reference rate for the Yen stood at 52.71, the reference rate for the Great Britain Pound (GBP) stood at 96.5568. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| November 19, 2014 | 61.82 | 96.5568 |
| November 18, 2014 | 61.80 | 96.7666 |
(RBI-Reference Rate)
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