Indian rupee ended little changed from its Thursday’s close on Friday as its further uptrend was capped on account of broad gains in the dollar against other major currencies. Nevertheless, the upbeat mood was on account of splendid gains of positive local equities, which vaulted to record highs, aiding the positive momentum of Indian currency. Meanwhile, there were also some rumors of central bank buying dollar to prevent rupee gains. On the global front, euro fell third of a percent against the dollar on Friday after strong words from European Central Bank chief Mario Draghi a day earlier halted its march to a 2-1/2 year high. Draghi underscored after the bank's policy meeting on Thursday that the euro's strength was a serious concern and that the ECB was comfortable with taking more action to support growth and raise inflation at its June meeting.
Finally the rupee ended at 60.04, little changed from its previous close of 60.07 on Thursday. The currency touched a high and low of 60.10 and 59.93 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 60.05 and for Euro stood at 83.07 on May 09, 2014. While, the RBI’s reference rate for the Yen stood at 59.06, the reference rate for the Great Britain Pound (GBP) stood at 101.6534. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
