The Indian rupee cuts its initial profit gains against the American currency, but was still quoted bigger by 17 paise - 61.70 per dollar on the selling of the greenback by banks and exporters in view of powerful foreign capital arrivals in the equity market. The rupee continues bigger at 61.60 per dollar as against the previous weekend's level of 61.87/dollar at the Interbank Foreign Exchange (Forex) Market and rigid upward further to 61.58/dollar on the initial selling of dollars. However, it cuts its initial profit gains and was quoted at 61.70/dollar at 1100 hrs on some demand from banks on the back of bigger dollar in the overseas market. It hung in the range of 61.58 to 61.73/dollar during the morning trade. In New York, the euro slide to another 11 year down against the dollar on last Friday, a day after the Swiss National Bank's surprise decision to eliminate its exchange rate cap abolish a source of support for the shared currency.
RBI REFERENCE RATE
(As of 16th JANUARY 2014)
UNDERLYING RATE
USDINR 61.6990
EURINR 71.3302
GBPINR 93.4123
JPYINR 52.6800
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