Indian rupee concluded flat for second consecutive session on Friday as losses on account of heavy dollar demand from importers to meet month-end commitments were offset by greenback sales from custodian banks. Additionally, weakness of local equities and strength of American greenback against other majors also restricted any kind of uptrend of local equities. Globally, dollar held gains versus the yen on Friday and the euro stood steady after rebounding from an eight-month low against the greenback as data painted a brighter picture of the U.S. and eurozone economies.
Finally the rupee ended unchanged from its Thursday’s close of 60.11 on Friday. The currency touched a high and low of 60.17 and 60.07 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 60.14 and for Euro stood at 80.01 on July 25, 2014. While, the RBI’s reference rate for the Yen stood at 59.11, the reference rate for the Great Britain Pound (GBP) stood at 102.2161. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
