Indian rupee extended its decline on Thursday after RBI raised interest rate by another 25 basis points. The domestic currency was in somber mood since morning tailing the weakness in euro against dollar and the prevailing weakness in the local equity markets. Euro fell to a three-week low against the dollar, breaking below key technical support hurt by concerns that Greece’s debt problems were spiralling out of control.
Finally the Rupee ended at 44.90/91, weaker by 13 paise from its previous close of 44.77 on Wednesday. It touched a high and low of 44.9375 and 44.8250 respectively. The Reserve Bank of India's reference rate for the Dollar stood at 44.90 and for Euro it stood at 63.39 on June 16, 2011. While, the RBI's reference rate for the Yen stood at 55.56 and the reference rate for the Great Britain Pound (GBP) stood at 72.5449. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
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