The partially convertible currency is currently trading at 52.32, stronger by 31 paise from its previous close of 52.63 on Monday
Following local markets gains Indian rupee recovered against dollar on Tuesday amid dollar selling by exporters and banks. Strengthening of euro against the dollar overseas also supported the local unit.
However, domestic currency has witnessed its second biggest fall of 79 paise in 2012 to close at one-week low of 52.63 on Monday in line with sluggish stock market. Meanwhile, investors raised hopes on India’s finance minister P. Chidambaram statement that his ministry will soon unveil a five-year plan for a credible and feasible fiscal consolidation path.
The partially convertible currency is currently trading at 52.32, stronger by 31 paise from its previous close of 52.63 on Monday. The currency, so far, has touched a high and low of 52.51 and 52.23 respectively. The Reserve Bank of India's (RBI) reference rate for the dollar stood at Rs 52.21 and for Euro it stood at Rs 67.7515 on October 8, 2012. While, the RBI’s reference rate for the Yen stood at 66.46 the reference rate for the Great Britain Pound (GBP) stood at 84.0027. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| October 8, 2012 | 52.21 | 84.0027 |
| October 5, 2012 | 51.61 | 83.5704 |
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