Indian rupee ended flat on Thursday as gains on account of positive local equities were offset by the losses due to weakness in other Asian currencies. Nevertheless, slide was arrested on report from Moody’s Investors Service, in which it expressing optimism in the efforts of the new government and the Reserve Bank of India raised the rating outlook of the country to positive. However, RBI’s speculated intervention, which apparently purchased dollars via state run banks also ate into the gains of the local unit. On the global front, dollar touched a one week high on Thursday after two influential Federal Reserve officials kept alive expectations for a rise in US interest rates before the end of this year.
Finally the rupee ended at 62.24, almost unchanged from its previous close of 62.25 on Wednesday. The currency touched a high and low of 62.29 and 62.15 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 62.25 and for Euro stood at 66.99 on April 09, 2015. While, the RBI’s reference rate for the Yen stood at 51.77, the reference rate for the Great Britain Pound (GBP) stood at 92.4937. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
