Indian rupee concluded weaker near a month low level on Friday on prevailing risk off sentiment after the downing of a Malaysian airlines jet at the Ukraine-Russia border sent investors scurrying to defensive assets. Additionally, dollar demand by state run banks and oil importers in view of its strength overseas also weighed on the sentiment. However, positive close of local equities to some extent prevented sharper slide of local currency. On the global front, euro slipped below the psychologically significant $1.35 level on Friday for the first time since February as the dollar gained broadly amid geopolitical tensions aggravated by the downing of a Malaysian airliner in Ukraine.
Finally the rupee ended at 60.27, weaker by 8 paise from its previous close of 60.19 on Thursday. The currency touched a high and low of 60.45 and 60.24 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 60.33 and for Euro stood at 81.58 on July 18, 2014. While, the RBI’s reference rate for the Yen stood at 59.54, the reference rate for the Great Britain Pound (GBP) stood at 103.1824. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
