Indian rupee despite a positive start turned lower on Wednesday, extending its decline for the second consecutive session. Intraday, the domestic currency once again breached the crucial 64/dollar mark. Although the rupee remained under pressure owing to the extended slump in the equity markets but alternate bouts of demand and supply of US greenback kept the rupee from falling further. In the global markets the dollar weakened overseas owing to concerns about the lack of progress in Greece's talks with its creditors on overhauling its bailout terms, amid huge spike in European yields.
Finally the rupee ended at 63.91, 8 paise lower from its previous close of 63.83 on Tuesday. The currency touched a high and low of 64.07 and 63.75 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 63.85 and for Euro stood at 71.28 on June 3, 2015. While, the RBI’s reference rate for the Yen stood at 51.52, the reference rate for the Great Britain Pound (GBP) stood at 98.1206. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
