Indian rupee, after making a good start, went on capturing ground and ended strong on Thursday on the back of strength of other Asian currencies against dollar on Thursday after U.S. Federal Reserve signalled that interest rates will stay low for a while yet. Nevertheless, Indian currency retreated from day’s low level tailing the minor recovery of local equities and also dollar demand from oil marketing companies. On the global front, U.S. dollar wallowed at its lowest in nearly two weeks against a basket of major currencies early on Thursday, having beat a hasty retreat after the Federal Reserve signalled that interest rates would stay low for a while yet.
Finally, the rupee ended at 60.09, stronger by 31 paise from its previous close of 60.40 on Wednesday. The currency touched a high and low of 60.18 and 59.86 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 60.12 and for Euro stood at 81.43 on June 18, 2014. While, the RBI’s reference rate for the Yen stood at 58.81, the reference rate for the Great Britain Pound (GBP) stood at 102.0004. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
