Indian rupee, moving in tight band for the entire session, concluded almost unchanged for second consecutive session on Thursday as gains on account of positive trend of local equities were offset by growing demand for the greenback from importers looking to meet month-end commitments. Additionally, cautiousness ahead of Q2 GDP data, which is estimated to have grown at 5% or even lower in the second quarter of 2014-15, sharply lower than the 5.7% witnessed in the first quarter also weighed on the sentiment of Indian currency. On the global front, dollar edged down against the yen on Thursday after lacklustre U.S. economic data pushed Treasury yields lower and dulled investor appetite for the greenback.
Finally the rupee ended at 61.87, little changed from its previous close of 61.85 on Wednesday. The currency touched a high and low of 61.92 and 61.80 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 61.86 and for Euro stood 77.37 on November 27, 2014. While, the RBI’s reference rate for the Yen stood at 52.71, the reference rate for the Great Britain Pound (GBP) stood at 77.3746. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
