Indian rupee ended tad weak on Thursday on account of persistent dollar demand from state-run banks for oil and defence-related payments against the strength of American greenback overseas. Additionally, flat close of local equities also provided no support to the local unit, along with prevailing caution ahead of the earnings of blue chip-company, namely, TCS, also added to the negative milieu. On the global front, yen hit a five-month high against the euro on Thursday on renewed safe-haven inflows as the West imposed further sanctions against Russia, which weighed on global risk sentiment.
Finally the rupee ended at 60.19, weaker by 6 paise from its previous close of 60.13 on Wednesday. The currency has touched a high and low of 60.19 and 60.10 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 60.14 and for Euro stood at 81.33 on July 17, 2014. While, the RBI’s reference rate for the Yen stood at 59.25, the reference rate for the Great Britain Pound (GBP) stood at 103.0019. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
