Indian rupee after consolidating in previous session, ended weak on Tuesday, largely overlooking late recovery of local equities as weakness of other Asian currencies weighed on the sentiment. The Indian currency, after making a weak start and subsequently witnessing recovery, depreciated yet gain in trade on account of importer’s demand for American currencies, combined with profit-booking on speculation of RBI’s intervention, which added to its underlying weak sentiment. On the global front, dollar held steady versus a basket of major currencies on Tuesday, clinging to gains made the previous day thanks to higher U.S. bond yields after last week's solid U.S. jobs report.
Finally, the rupee ended at 59.29, weaker by 10 paise from its previous close of 59.19 on Monday. The currency touched a high and low of 59.33 and 59.15 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 59.26 and for Euro stood at 80.59 on June 10, 2014. While, the RBI’s reference rate for the Yen stood at 57.95, the reference rate for the Great Britain Pound (GBP) stood at 99.6299. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
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