Indian rupee ended weak despite gains of local equities and other Asian currencies’ strength against dollar on account of Reserve Bank of India’s speculated intervention, which has led the Indian currency to clock its first quarterly fall. Additionally, month-end dollar demand from oil importers also weighed on the sentiment. On the global front, dollar remained near a more than one-month low against a basket of major currencies on Monday, after a batch of disappointing U.S. data last week gave investors no reason to expect higher U.S. interest rates anytime soon.
Finally, the rupee ended at 60.19, weaker by 11 paise from its previous close of 60.08 on Friday. The currency touched a high and low of 60.26 and 60.00 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 60.09 and for Euro stood at 82.00 on June 30, 2014. While, the RBI’s reference rate for the Yen stood at 59.28, the reference rate for the Great Britain Pound (GBP) stood at 102.3269. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
