RBI Reference rate for US dollar and euro

Jan 24, 2009

The Reserve Bank of India on Friday fixed the Reference rate for the US currency at Rs 49.19 per dollar and the single European unit at Rs 63.60 per euro from Rs 48.93 per dollar and Rs 63.70 per euro respectively on Thursday.

In a press note issued in Mumbai on Friday by the apex bank, the exchange rates of Great Britain's Pound and Japanese Yen against the Rupee have been given as Rs 67.6067 per pound and Rs 55.58 per 100 yen respectively, based on the Reference rate for US dollar and middle rates of the cross currency quotes at noon.

The Reference rate is based on 12 noon rates of a few select banks in Mumbai and the SDR-Rupee rate will be based on this rate, the release added.

Rupee rises; up by 21 paise to 48.90 a dollar

Jan 23, 2009

The Indian rupee appreciated 21 paise against the US currency on Thursday in early trade on dollar selling by banks and exporters amid hopes of firm opening on the domestic stock markets in line with better trends on other Asian bourses.
At the Interbank Foreign Exchange (Forex) market, the domestic currency traded higher at 48.90 against the US

currency, a rise of 21 paise over the previous close of 49.11/12 a dollar.

On Wednesday, the rupee gained 9 paise to close at 49.11/12 a dollar.

Forex dealers said dollar selling by banks, recovery on the Asian equity markets and hopes of Indian stock markets opening higher, helped the rupee to strengthen.

The dollar's weakness against some other Asian currencies also supported the rupee, they said.

Among Asian markets, Hong Kong's Hang Seng rose 1.23 per cent, while Japan's Nikkei remained almost flat in early trade on Thursday.(

Jan 21, 2009:

Rupee reverses; gains 4 paise in morning trade
The Indian rupee appreciated by four paise to 49.16/18 against the US currency in morning trade on Wednesday after losing nine paise in the early trade amid signs of fresh pressure on the local unit as equity markets continued their slide for the second straight day.

Dealers at the Interbank Foreign Exchange (forex) market said the domestic currency is expected to trade in a range of 49.16 and 49.40 during the day and may weaken further due to pressure from capital outflows.

The rupee resumed lower at 49.25/27 a dollar against its previous close of 49.20/22 a dollar and later moved in a range of about 25 paise in the initial thirty minutes of trading.

It was quoted at 49.16/18 a dollar in late morning deals.

Indian benchmark Sensex this morning fell by another 221 points leading to fears of more funds outflow by foreign

Institutional Investors (FII).(AM-21/01)

Jan 15, 2009: Rupee recovers partly, still down 18 ps vs dlr- The domestic currency bounced after touching a low of 49.20 a dollar and was quoted at 49.00/02 a dollar at 1030

The Indian rupee has recovered partly of its early losses but remained 18 paise lower against the US currency in late morning trade on Thursday, in sync with a steep fall in local stocks.

The domestic currency bounced after touching a low of 49.20 a dollar and was quoted at 49.00/02 a dollar at 1030 hours as select banks heavily bought dollar at the rupee's lower levels.

In active trade at the Interbank Foreign Exchange (forex) market, the rupee resumed sharply lower at 49.15/20 a dollar from its previous close of 48.82/84 a dollar and later moved in a range of 48.95 to 49.20 in the initial half-hour of trading.

Forex dealers said a fresh slide in equity markets induced increasing fears of capital outflows from the country and in turn, weighed on the rupee sentiment.

They said the rupee, however, recovered part of its losses as some state-owned banks bought dollars probably at the behest of the central bank after the currency hit a low of 49.20 immediately after resumption of trading.