Rupee recouping all its losses emerged strong on Friday tracking strength in euro despite negative local shares. However, dollar gained against the basket of major currencies and losses in the regional counterparts provided a ceiling to the gains of the domestic currency. On the global front, the euro rose on Friday on speculation of a New Greek aid package and as Germany pledged to work with the European Central Bank to resolve the debt crisis, but it remained vulnerable to a sell-off in the absence of a concrete solution.
Finally the rupee ended at 44.86/87, stronger by 4piase from its previous close of 44.90/91 on Thursday. It touched a high and low of 44.9600 and 44.8300 respectively. The Reserve Bank of India's reference rate for the Dollar stood at 44.93 and for Euro it stood at 63.62 on June 17, 2011. While, the RBI's reference rate for the Yen stood at 55.73 and the reference rate for the Great Britain Pound (GBP) stood at 72.4272. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
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