Indian rupee after taking a breather in previous session, again resumed its southbound journey to depreciate on Thursday. However, Indian rupee recovered from the day's low in afternoon trade on Thursday aided by a pullback in domestic equities amidst receding worries of an immediate credit crunch in the euro zone which improved global risk appetite. On the global front, euro pared gains against the dollar on Thursday amidst ongoing concerns that the euro zone debt crisis could intensify next year, thereby driving investors to sell into any rebounds in the single currency.
Finally the rupee ended at 52.72, weaker by 25 paise from its previous close of 52.47 on Wednesday. It has touched a high and a low of 52.86 and 52.62 respectively. The Reserve Bank of India's reference rate for the dollar stood at Rs 52.78 and for Euro it stood at 68.87 on December 21, 2011. While, the RBI's reference rate for the Yen stood at 67.63 and the reference rate for the Great Britain Pound (GBP) stood at 82.7313. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
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